Ripple Raises $ 200 Million Investment To Expand Its Operations

Ripple raised $ 200 million in its Series C funding round to help develop its products, foster XRP integration and expand staff.

Tetragon, SBI Holdings and Route 66 Ventures took part in the investment round.

According to Ripple CEO Brad Garlinghouse, the company is now in a good financial position, and in 2019 it was able not only to maintain its position, but also increased its market coverage..

Ripple is currently valued at $ 5-10 billion, depending on the rating agency. By according to a study by The Block, in 2019 alone, the company sold XRP for $ 260 million.

Ripple Raises $ 200 Million Investment To Expand Its Operations

Brad Garlinghouse said the RippleNet payment network already has over 300 customers. They expect that next year the number of participants will grow by 30-40%, and the volume of transactions will increase more than sevenfold.

We also previously reported that in during the seed round of investments, a fintech startup with Russian roots Zerion raised $ 2 million for further development.

text: Ivan Malichenko, photo: Forbes

Ripple Raises $ 200 Million Investment To Expand Its Operations

Similar articles