Japanese venture capital firm SBI Investment is leading a Series B funding round in bitcoin exchange Kraken.
While the terms of the deal were not disclosed, Kraken said that a "multi-million dollar" investment had been agreed upon with SBI. Kraken did not say when it expected the Series B round to be completed.
"It’s a fantastic first step toward completing Series B, which will ultimately enable us to scale our business worldwide," said Kraken CEO Jesse Powell.
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The announcement comes shortly after Kraken disclosed that it was acquiring New York bitcoin exchange Coinsetter in an undisclosed deal.
Kraken closed a Series A funding round in March 2014, raising $5m in a round led by Hummingbird Ventures, an early-phase venture capital firm.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Kraken.