21 December 2019:
Ripple has raised $200 million in Series C round of funding. The funding round was led by Tetragon. SBI Holdings and Route 66 Ventures also participated in the funding round.
The company will use the fresh capital for on boarding of new global talent to meet market demands and better serve its growing community of customers and partners.
Ripple also announced the next chapter for Xpring. Xpring is the open developer platform for money. This platform offers tools, services and programs that make it easier for developers to send and receive payments in any currency, across any network, using the XRP Ledger and Interledger Protocol (ILP)—removing the pain and friction from integrating money into apps.
Brad Garlinghouse, CEO, Ripple, said, “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.”
Ripple’s global payments network RippleNet grew to more than 300 customers worldwide and included a new strategic partnership with MoneyGram.
(Source – Ripple)