Bakkt Raises $300mn Series B from Microsoft and PayU

Digital asset services fintech Bakkt has raised a $300mn series B from Microsoft’s venture capital arm M12 and fintech PayU; additional investors in the round include Boston Consulting Group, Goldfinch Partners, CMT Digital, Pantera Capital and Bakkt’s parent firm Intercontinental Exchange (ICE); the company is working on launching an app that will convert cryptocurrencies and digital assets into cash through and e-wallet; the new capital will also help to fund the recent acquisition of Bridge2 Solutions, a SaaS platform for merchant and consumer loyalty solutions. Fintech Futures

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