Ripple, a San Francisco, CA-based provider of global financial settlement technology (formerly known as Ripple Labs), raised an additional $4m in Series A funding.
Santander InnoVentures, Santander Group’s $100m fintech venture capital fund led by Managing Partner Mariano Belinky, joined the round, which now amounts to $32m having the company announced a $28M Series A Funding in May 2015.
Led by CEO and co-founder Chris Larsen, Ripple provides bank-grade solutions that enable the world’s disparate financial networks to securely transfer funds in any currency in real time. Financial institutions use Ripple as an alternative to correspondent banking to facilitate real-time, certain settlement at the lowest total cost possible.
The company also has offices in New York and Sydney.