Bakkt has raised $480.0M in total across 2 funding rounds.
Bakkt's investors include American Express Ventures, B Capital Group, Blockchain Capital, Cedar Capital Group, Chemistry VC, Citi Ventures, Coinbase Ventures, Tapas Capital, Scott Belsky, Trevor Wright, 305 Ventures, Borderless Capital.
Bakkt Holdings, Inc. (NYSE: BKKT) is a technology company providing a SaaS and API platform for cryptocurrency trading, custody, and payments, enabling businesses and institutions to integrate digital assets securely and compliantly.[1][2] Headquartered in Alpharetta, Georgia, and New York City, it serves retail and institutional clients through solutions like Bakkt Brokerage for licensed crypto trading and BakktX for institutional trading, bridging traditional finance with the crypto economy.[1][2][3] Originally 55% owned by Intercontinental Exchange (ICE), which owns the NYSE, Bakkt has evolved into a pure-play digital asset infrastructure provider after divesting non-core businesses like loyalty rewards in July 2025.[1][4]
The platform addresses key challenges in digital assets by offering regulated infrastructure for trading Bitcoin, tokenization, stablecoin payments, and AI-driven finance, with revenue from commissions on payments, purchases, and sales.[1][4] It targets businesses seeking fiat-to-crypto onramps/offramps via partnerships like Plaid, operating in all 50 U.S. states and select international regions, while focusing on growth through cost optimization and new features like Brokerage-in-a-box version 2.0.[2][3]
Bakkt was founded in August 2018 by Intercontinental Exchange (ICE) in partnership with Boston Consulting Group (BCG), Microsoft, Starbucks, and others, aiming to create a platform for managing digital assets starting with Bitcoin trading and fiat conversion.[1][2] Kelly Loeffler served as its first CEO until her U.S. Senate appointment.[1] Early milestones included acquiring Rosenthal Collins Group assets in January 2019 for consumer payments, Digital Asset Custody Company in April 2019, and launching Bitcoin futures trading in September 2019 after regulatory approvals.[1]
ICE acquired Bridge2 Solutions in February 2020, integrating it into Bakkt for loyalty rewards.[1] The company went public in October 2021 via a SPAC merger with VPC Impact Acquisition Holdings, listing on the NYSE.[1] Subsequent moves included acquiring Apex Crypto in April 2023 and appointing Akshay Naheta as co-CEO in March 2025, culminating in the $11 million sale of its loyalty business in July 2025 to focus purely on crypto infrastructure.[1][4]
Bakkt rides the trend of institutional adoption of digital assets, positioning itself at the intersection of traditional finance (via ICE/NYSE ties) and crypto, enabling seamless integration into commerce and markets.[1][3][4] Timing aligns with post-2024 regulatory clarity and rising demand for compliant infrastructure amid Bitcoin's growth and stablecoin proliferation.[3] Market forces like tokenization, AI-driven finance, and global payments favor Bakkt's secure platform, which influences the ecosystem by providing backbone services for institutions, fostering broader crypto participation and bridging fiat-digital divides.[2][4]
Bakkt's shift to a lean, pure-play infrastructure provider sharpens its edge in high-growth areas like stablecoin payments, Bitcoin strategies, and tokenization, with Q3 2025 reporting streamlined around core crypto ops.[4] Upcoming catalysts include Brokerage 2.0 launch, AI integrations, potential acquisitions, and profitability pushes amid institutional crypto inflows.[3][4] As digital assets redefine money and markets, Bakkt could expand influence through global scaling and partnerships, solidifying its role as next-gen financial backbone—echoing its 2018 mission to responsibly grow the crypto economy.[2][4]
Bakkt has raised $480.0M across 2 funding rounds. Most recently, it raised $300.0M Series B in March 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Mar 1, 2020 | $300.0M Series B | American Express Ventures, B Capital Group, Blockchain Capital, Cedar Capital Group, Chemistry VC, Citi Ventures, Coinbase Ventures, Tapas Capital, Scott Belsky, Trevor Wright | |
| Dec 1, 2018 | $180.0M Series A | 305 Ventures, Borderless Capital, Pillar VC, Rebel Fund, Susquehanna Capital, Harrison Uffindell, Mei Z. |
