It looks like Ripple is ending the year with a bang.
Ripple is thrilled to announce $200 million in Series C funding—an investment that marks a record year for the business and further proves the value of blockchain technology in improving global payments and the broader utility of the digital asset XRP and the XRP Ledger.
The Series C round sent Ripple’s valuation to a whopping $10 billion. It was led by London-headquartered Tetragon and was participated in by Tokyo-based SBI Holdings and Washington-HQ’d Route 66 Ventures. The company plans to use to the cash to hire talent and better serve its partners and customers.
Speaking of customers, 2019 saw Ripplenet reach a new high of 300 customers in over 45 countries. The surge apparently pushed 10x year-on-year growth across the network.
“We are 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,” said CEO Brad Garlinghouse.
Photo: Marco Verch