Bakkt has raised $482 million through two major rounds: a $182M Series A (Dec 19, 2018) and a $300M Series B (Feb 28, 2020) with investors including Pantera Capital, M12, BCG, CMT Digital and PayU. Founded in 2018, Bakkt built an app-first platform for crypto trading, enterprise payments, gift cards and merchant fraud protection. Funding fueled product development, regulatory readiness, custody and wallet infrastructure, and merchant integrations. The capital helped Bakkt expand consumer offerings while building institutional-grade rails for custody, settlement and regulated crypto commerce.