Payward Completes $5M Series A Funding

krakenPayward completed a $5m Series A round of funding.

The round was led by Hummingbird Ventures.

Payward raised the funds to grow its San Francisco, CA-based Kraken division, an online exchange for Bitcoin, Ripple, Litecoin, Namecoin, Dogecoin, Ven and other digital currencies.

Led by Jesse Powell, founder and CEO, Kraken allows customers to trade digital currencies on protected hardware, with margin trading and advanced ordering, along with deposits and withdrawals enabled by a strategic agency partnership with German online bank Fidor AG.
Kraken publicly launched on Sept. 9, 2013.

Commenting on the funding, Powell said: “We’re looking forward to forging strong bank relationships in the US and elsewhere in the world, as we have in the EU, and expanding our global footprint”.



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