Ripple Marks 2019 As The ‘Strongest’ Year of Growth, Receives $200 Million in Funding
- Ripple’s Series C funding led by Tetragon and accompanied by SBI Holdings and Route 66 Ventures
- The investment will expedite the company in onboarding new global talent
- RippleNet saw 10x YOY growth in transactions
Ripple has received a $200 million in Series C funding, marking a record year, announced the company on Dec. 20.
Tetragon, SBI Holdings and Route 66 Ventures led the funding. This investment is intended to be used to back the Internet of Value (IoV) idea. CEO Brad Garlinghouse 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.”
The “Strongest” Year of Growth
The US-based fintech company, Ripple is a real-time settlement system to move money instantly to all corners of the world.
The past year has been its “strongest” year of growth. RippleNet grew to over 300 customers worldwide as well as forming a strategic partnership with MoneyGram.
Now, at the end of 2019, they have expanded to more than 45 countries and 6 continents with payout compatibilities in approximately 70 different currencies.
RippleNet actually saw 10x growth overall due to its On-Demand Liquidity product that leverages digital asset XRP.
Recently, we also saw Ripple announcing upcoming plans for its investment arm Xpring. Money offer tools, programs, and services simplify the process of sending and receiving payments in any currency using XRP Ledger and Interledger Protocol (ILP).