Ripple Labs Inc secures $500M in funding led by Fortress Investment Group, boosting its valuation to $40B and highlighting its growth strategy and future in crypto.
Amount Raised
$500 Million
Round Type
Venture
San FranciscoInformation TechnologyFinancial ServicesAdvertisingFinanceFintechBlockchainCryptocurrencyLendingMarketingInvestors
Description
Ripple Labs Inc has raised $500 million from Fortress Investment Group, Brevan Howard, and Marshall Wace, increasing its valuation to $40 billion. The funding marks a significant milestone for the blockchain payments firm, amid a challenging cryptocurrency market. CEO Brad Garlinghouse emphasized the funding reflects confidence in Ripple's growth strategy and future potential in the industry. This investment is seen as part of a series of good news for Ripple in what has been an incredible year.
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