Ripple, a San Francisco, CA-based provider of financial settlement solutions, completed a $55m Series B financing.
The company will use the funds to accelerate its customer growth, pursue strategic partnerships and grow the team internationally.
Backers included Standard Chartered, Accenture Ventures, SCB Digital Ventures, the venture arm of Siam Commercial Bank, SBI Holdings, Santander Innoventures, the venture arms of CME Group and Seagate Technology, and Venture 51. Existing investors include GV (Google Ventures), Andreessen Horowitz, IDG Capital Partners, and Jerry Yang’s AME Cloud Ventures.
The company, which has received a total of over $93 million in funding to date, intends to use the funds to grow its customer base around the world.
Led by CEO & co-founder Chris Larsen, Ripple provides global financial settlement solutions to enable banks to transact directly in real-time using the digital asset XRP to further reduce liquidity costs. Banks around the world are partnering with Ripple to improve their cross-border payment offerings, and to join its global network of financial institutions and liquidity providers.
Its global network includes 15 of the top 50 global banks, 10 banks in commercial deal phases and over 30 bank pilots completed, among many others also using Ripple’s solutions.
The company has offices in San Francisco, New York, London, Sydney and Luxembourg.