Ripple secures $200 million in new funding

Ripple secures $200 million in new funding

Payments disruptor Ripple has scored $200 million in Series C financing, in a round led by Tetragon with participation from SBI Holdings and Route 66 Ventures.

The company says the new funding follows a record year, which saw its global payments network RippleNet grow to more than 300 customers worldwide and included a new strategic partnership with MoneyGram.

CEO Brad Garlinghouse, says: “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.”

He says the new cash will be used to expand Ripple's developer platform Xpring and to hire new talent to help meet market demand.

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