November 27, 2022

Ripple attracted $ 200 million investment to expand its activities

Ripple attracted $ 200 million investment to expand its activities

During the C Series financing round, Ripple raised $ 200 million, which will be used to develop its products, stimulate XRP integration and expand staff.

Tetragon, SBI Holdings and Route 66 Ventures took part in the investment round.

According to Ripple CEO Brad Garlinghouse, the company is now in a good financial position, and for 2019 was able to not only maintain its position, but also increased its market coverage.

Ripple is currently valued at $ 5-10 billion, depending on the rating agency. According to Block research, in 2019 alone, the company sold XRP for $ 260 million.

Brad Garlinghouse said the payment networkRippleNet already has over 300 customers. They expect that next year the number of participants will increase by 30-40%, and the volume of transactions will increase by more than seven times.

Earlier, we also reported that during the sowing round of investments, fintech startup with Russian roots Zerion raised $ 2 million for further development.