Ribbit Capital to raise $420m fintech fund
More good news for fintech firms could be on the way as investment firm Ribbit Capital is on the hunt for $420 million in funds.
In a US Securities and Exchange Commission (SEC) filing dated 12 September, the company has made its grand intentions clear.
Ribbit is a big player on the investment scene and this is its fifth fund. In fact, it raised $100 million in 2013, $125 million fund in 2014 and $226 million fund in 2015.
To give you an idea of its diverse range of investments over the past years these include trading app Robinhood, Coinbase, digital lending start-up ZestMoney, US lender Upgrade, UK-based challenger Revolut, paytech Gusto, Next Insurance, Brazilian challenger Nubank, and Wealthfront.
Back in May, Robinhood enjoyed a Series D funding round of $363 million. The round took its valuation to $5.6 billion.
In April, Revolut raised an additional $250 million in Series C funding, which saw the fintech valued at $1.7 billion – a five-fold increase in less than a year.
Also in April, Nubank bagged $150 million funding. That start-up also made headlines for its antitrust complaint against some of Brazil’s largest banks.