Abra was founded in 2014 by James Robinson IV, Pete Kelly, and William Barhydt. While the company appointed its first CFO in 2022, Abra has not publicly discussed plans to participate in an IPO. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Abra is a cryptocurrency investment app that allows users to trade more than 100 cryptocurrencies and reports to have processed more than $1 billion in crypto-backed loans. The company states that its user count grew by more than 300% in 2021 and that its transaction volume grew by more than 660% within the same timeframe. Abra has raised more than $100 million in venture capital funding from investors including IGNIA, American Express, Foxconn, Blockchain Capital, Kingsway Capital, and CMT Digital. Abra's most recent round of funding raised $55 million and increased the company's valuation to $500 million.