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Ripple XRP News

Record year for Ripple with $200M raised in series C funding

A few days ago, Ripple announced a new chapter for Xpring to enable developers to integrate real-time payments in any currency into their platform with ease. Today, exciting news comes out again out from the Ripple team announcing $200 million raised in a Series C funding round, led by Tetragon. The investors include SBI Holdings and Route 66 Ventures, both of which have expressed their belief in Ripple’s mission for a long time now.

The new funding round will allow Ripple to deploy capital and onboard new global talent to further improve the XRP ledger and XRP’s utility in different applications. Although XRP is now trading under $0.20, Ripple has had a record year in terms of growth and partnerships. RippleNet now includes over 300 customers, on a global scale and they’ve established a strategic partnership with one of the world’s top payment providers MoneyGram.

According to Ripple’s CEO, Brad Garlinghouse, Ripple is 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”.

Image licensed via Shutterstock

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