Backed Finance AG

Based in Zug, Switzerland, and founded in 2021 by co-founders Adam Levi, Roberto Klein, and Yehonatan Goldman, Backed Finance operates as a developer of tokenized stocks and tracks the value of real-world assets. In November 2025, Kraken, a portfolio company of BLN Capital, Dedicated VC, Soul Ventures, Socially Financed, The 6ixth Event, Paradigm, Venture Garage, Tribe Capital, Ahimsa VC, Electric Capital, Fidelity Investments, General Atlantic, RIT Capital Partners, Arceau, Raison Asset Management, MAK VC, Flux Capital, Eterna Capital, Midrock, Money Partners Group Co. , Ltd. , SBI Investment, Trammel Venture Partners, Blockchain Capital, Digital Currency Group, G1 Venture Capital, Citadel Advisors, Jane Street Group, LLC, Wintermute Ventures, Tsao Pao Chee, HSG, DRW Venture Capital, Oppenheimer Alternative Investment Management, and Hummingbird Ventures, acquired Backed Finance AG from Gnosis, Semantic Ventures, Stratos Technologies, Exor Seeds, Mindset Ventures, Blockchain Founders Fund, Blue Bay Ventures, Cyber Fund, nonce Classic, and Stake Capital.

The acquisition enables Kraken to establish unified rails for tokenized equities and advance open capital markets. Backed Finance develops a platform that hosts a diversified range of backed assets, including Treasury Bonds, High Yield Corporate Bonds, and the Core S&P 500, each represented by specific tokens like bIB01, bIBTA, bHIGH, and bCSPX. Additionally, the company provides both internal and external oracles, enabling access to verified price data on-chain, and enhancing the interoperability of the tokens with DeFi protocols.