Kaiko extends Series B to $110 million, backed by S&P Global and a bench of market infrastructure names

Kaiko, a provider of regulated digital-asset market data and analytics, has extended its Series B financing to $110 million in a strategic round led by S&P Global, the company said.

The round drew a notably wide bench of participants for a data-infrastructure raise: BNP Paribas, Bpifrance, Broadridge, the Canton Foundation, Coinbase Ventures, DRW Venture Capital, Nasdaq Ventures, Royal Bank of Canada, Stellar, and Susquehanna Private Equity Investments all took part, alongside existing shareholders Anthemis, Point Nine and Revaia.

Kaiko's core business is supplying institutional finance with the kind of independently sourced, exchange-level pricing and reference data for digital assets that traditional finance has long taken for granted from providers like Bloomberg or Refinitiv — data clean enough for a bank's risk models, a fund's NAV calculations, or an index provider's benchmark to rely on. The company said the new investors are joining a Kaiko-chaired working group focused specifically on data infrastructure for tokenized markets, the broader push to represent stocks, bonds, funds and other traditional assets as blockchain-based tokens.

The mix of investors is itself a signal about who considers tokenized-market data a strategic dependency rather than a speculative bet: a ratings and data giant leading the round, a card-and-wealth-technology processor in Broadridge, two of the largest banks in Canada and France, and both a crypto-native venture arm (Coinbase Ventures) and the Stellar network sitting at the same table. That breadth suggests infrastructure vendors across both traditional and crypto-native finance see a shared need for reliable data as more asset classes move on-chain, though it does not by itself resolve which data standards or vendors ultimately become the durable default.

Kaiko did not disclose a post-money valuation for the extended round alongside the announcement.