Ripple, a San Francisco, CA-based blockchain fintech company focused on improving global payments, raised $200m in Series C funding.
The round was led by Tetragon with participation from SBI Holdings and Route 66 Ventures.
The company intends to use the funds to expand operations, the adoption of its technology and of the digital asset XRP and the XRP Ledger, and of Xpring.
Led by CEO Brad Garlinghouse, Ripple operates RippleNet, a global, blockchain powered payments network that has grown to more than 300 customers in more than 45 countries including a strategic partnership with MoneyGram.
By joining RippleNet, financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can also use the digital asset XRP to further reduce their costs and access new markets. Xpring is the open developer platform which offers tools, services and programs that make it easier for developers to send and receive payments in any currency, across any network, using the XRP Ledger and Interledger Protocol (ILP).
The company has offices in San Francisco, New York, London, India, Singapore and São Paulo, Dubai and beyond, employing over 350 people.