Ripple secures $200m in Series C funding

Funding Rounds

▤ Summary

Ripple has announced $200 million in Series C funding, led by Tetragon with participation from SBI Holdings and Route 66 Ventures. Chief executive Brad Garlinghouse commented: “We are in a strong financial position to execute against our vision - as others in the blockchain space have slowed their growth or even shut down, we have accelerated our momentum and industry leadership throughout 2019. " A statement from the company explained that the new investment will expedite its hiring of new global talent to meet market demands and better serve both customers and partners. This year, its global payments network RippleNet grew to more than 300 customers worldwide and included a new strategic partnership with MoneyGram. Meanwhile, Ripple announced the next chapter for Xpring, the companys open developer platform for money, which uses the XRP Ledger and Interledger Protocol - removing the friction from integrating money into apps.

$ Funding

$
Amount $200.0M Total raised
□
Date December 20, 2019 Announcement date
◎
Investors Route 66 Ventures Lead investors
▥
Company http://www.ripple.com Funded company

▥ Classifications

industries
Fintech & Banking
applications
Business Intelligence

◇ AskAI Classifications

Labels
SaaS FinTech Software Blockchain Infrastructure

▦ Linked Companies

Ripple
$50M to $100M