Kraken Raises Over $13 Million In Its Latest Fundraising Round

San Francisco-based cryptocurrency exchange Kraken has raised over $13 million in financing on online investment platform BnkToTheFuture.

Kraken has raised $13.5 million from 2264 investors, surpassing its initial target of $10.2 million purportedly due to popular demand.

The fundraising campaign of Kraken - which has over four million clients in nearly 200 countries - is the most successful funding round by individual contributors on BnkToTheFuture.

As previously reported, Kraken raised over $6 million in the first day of the campaign from almost 300 investors.

On BnkToTheFuture, Kraken describes itself as the only regulated spot and futures cryptocurrency exchange with over $85 billion in trading volume in 2018 alone, making its compound annual growth rate of 387%. In recent months, Kraken has made some developments in security and international expansion.

In late March, the exchange announced that two-factor authentication is now mandatory for the exchange's users.

Kraken acquired United Kingdom futures provider Crypto Facilities earlier this year in a move which produced significantly heightened interest in its products.

Crypto Facilities, which began operating in 2015, is fully regulated by the U.K.'s Financial Conduct Authority, giving Kraken a major foothold in the European market.

Kraken is currently the 33rd-largest crypto exchange in terms of adjusted trading volume, according to CoinMarketCap.

The exchange's daily trading volume is around $326.3 million, with 74 crypto markets on offer.