Ripple raises $200m in Series C funding round
Blockchain tech and digital assets firm Ripple says it has raised $200 million in Series C funding – “an investment that marks a record year for the business”.
Ripple says the investment “further proves the value of blockchain technology in improving global payments”.
The funding round was led by Tetragon with participation from SBI Holdings and Route 66 Ventures.
“Ripple’s Series C is just one moment along the company’s journey to change the way the world moves money,” the company states. “Ultimately, this investment supports Ripple’s broader vision for the Internet of Value (IoV) to enable the world to move value like information moves today – a global problem, with far-reaching implications.”
Ripple’s CEO, Brad Garlinghouse, notes that whilst “others in the blockchain space have slowed their growth or even shut down, we have accelerated our momentum and industry leadership throughout 2019”.
The year has been the strongest in terms of growth for the firm snice in inception in 2012. Its global payments network, RippleNet, now has more than 300 customers across 45+ countries. It has also gained a new strategic partner, MoneyGram.
In addition, Ripple has announced “the next chapter” for Xpring, its open developer platform for money.
The latest investment will also help Ripple “expedite the onboarding on new global talent”.