# Bakkt funding: rounds and investors > Bakkt has raised $230M across 2 rounds since 2019. Investors include Pantera Capital, CMT Digital and Galaxy Digital. Every round with its source. Source: https://millionrounds.com/company/bakkt (Millionrounds; every figure on the page links to its filing or article) United States · [Funded startup](https://millionrounds.com/companies) # Who invested in *Bakkt* 2 rounds we have observed, with the 11 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Web3 & Crypto Raised 9 months ago Funding summary Updated 26 Oct 2026 **$230M** raised across 2 rounds since 2019, from 2 sources **$182M** Round **$48M** Round - **Latest round:** Round, $48M Feb 2026 - **Biggest round:** $182M Round · Jan 2019 - **Investors:** 11 See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2019 2020 2021 2022 2023 2024 2025 2026 **$182M** Round **$48M** Round - **First round:** Round, $182M - **Biggest round:** $182M - **Between rounds:** 7.1 years ## The rounds - **Feb 2026** Round **$48M** *1 new* *3 returning* [Pantera Capital](https://millionrounds.com/fund/pantera-capital) [CMT Digital](https://millionrounds.com/fund/cmt-digital) [Galaxy Digital](https://millionrounds.com/fund/galaxy-digital) [SGH CAPITAL](https://millionrounds.com/fund/sgh-capital) Source recorded - **Jan 2019** Round **$182M** *10 new* [M12](https://millionrounds.com/fund/m12) [Pantera Capital](https://millionrounds.com/fund/pantera-capital) [Horizons Ventures](https://millionrounds.com/fund/horizons-ventures) [CMT Digital](https://millionrounds.com/fund/cmt-digital) [Galaxy Digital](https://millionrounds.com/fund/galaxy-digital) [PayU](https://millionrounds.com/fund/payu) [Boston Consulting Group](https://millionrounds.com/fund/boston-consulting-group) [Eagle Seven](https://millionrounds.com/fund/eagle-seven) [Goldfinch](https://millionrounds.com/fund/goldfinch) [Protocol Ventures](https://millionrounds.com/fund/protocol-ventures) Reported by TechCrunch SEC filing: $183M sold, first sale Dec 2018 ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Round** 2019 **Round** 2026 [Pantera Capital](https://millionrounds.com/fund/pantera-capital) [CMT Digital](https://millionrounds.com/fund/cmt-digital) [Galaxy Digital](https://millionrounds.com/fund/galaxy-digital) [M12](https://millionrounds.com/fund/m12) [Horizons Ventures](https://millionrounds.com/fund/horizons-ventures) [SGH CAPITAL](https://millionrounds.com/fund/sgh-capital) [PayU](https://millionrounds.com/fund/payu) [Boston Consulting Group](https://millionrounds.com/fund/boston-consulting-group) [Eagle Seven](https://millionrounds.com/fund/eagle-seven) [Goldfinch](https://millionrounds.com/fund/goldfinch) ## Everyone who backed them [Pantera Capital](https://millionrounds.com/fund/pantera-capital) VC firm **2** rounds [CMT Digital](https://millionrounds.com/fund/cmt-digital) VC firm **2** rounds [Galaxy Digital](https://millionrounds.com/fund/galaxy-digital) Private equity **2** rounds [M12](https://millionrounds.com/fund/m12) Corporate VC **1** round [Horizons Ventures](https://millionrounds.com/fund/horizons-ventures) VC firm **1** round [SGH CAPITAL](https://millionrounds.com/fund/sgh-capital) VC firm **1** round [PayU](https://millionrounds.com/fund/payu) Growth equity **1** round [Boston Consulting Group](https://millionrounds.com/fund/boston-consulting-group) VC firm **1** round [Eagle Seven](https://millionrounds.com/fund/eagle-seven) VC firm **1** round [Goldfinch](https://millionrounds.com/fund/goldfinch) Family office **1** round [Protocol Ventures](https://millionrounds.com/fund/protocol-ventures) Fund of funds **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=bakkt). ## Also claim to have backed them These 3 firms list Bakkt as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [ABC Partners](https://millionrounds.com/fund/abc-partners) VC firm Per its own site [Ethos VC](https://millionrounds.com/fund/ethos-vc) VC firm Per its own site [Night Owl Ventures](https://millionrounds.com/fund/night-owl-ventures) VC firm Per its own site ## Quick answers about Bakkt ### Who invested in Bakkt? Bakkt's investors include Pantera Capital, CMT Digital, Galaxy Digital, M12 and Horizons Ventures, and 6 more on record. ### How much has Bakkt raised? Bakkt has raised $230M across 2 rounds since 2019. ### When did Bakkt last raise? Bakkt's most recent round was an Undisclosed round of $48M in Feb 2026. ### What was Bakkt's biggest round? Bakkt's largest round on record is $182M (Undisclosed round), in Jan 2019. ### Who backed Bakkt first? Bakkt's first round on record, in Jan 2019, was backed by M12, Pantera Capital and Horizons Ventures and 7 others. ### What stage is Bakkt at? Bakkt's latest named round is an Undisclosed round, in Feb 2026. ### Where is Bakkt based? Bakkt is based in the United States. ## Companies like Bakkt In the same sector, and raised in the last eighteen months. [**Kalshi** $2.7B · Oct 2026](https://millionrounds.com/company/kalshi)[**STRIVE** $1.3B · Oct 2026](https://millionrounds.com/company/strive)[**Arda** $233M · Oct 2026](https://millionrounds.com/company/arda)[**Binance.US** $300M · Oct 2026](https://millionrounds.com/company/binance-us)[**Fission** $10M · Oct 2026](https://millionrounds.com/company/fission)[**Ramp** $4.5B · Oct 2026](https://millionrounds.com/company/ramp) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app