Ripple announced that a new record for Series C financing was set in 2019.
In fact, $200 million have been raised with this type of funding, making 2019 a record year for the company.
The Series C financing was primarily collected by Tetragon with the participation of SBI Holdings and Route 66 Ventures, and these investors are now partners of Ripple by offering their knowledge and expertise in the industry to help the company’s business grow on a global scale.
This type of fundraising is a vital step in helping the company change the way money is moved around the world, and it supports Ripple’s broader vision towards the Internet of Value (IoV). The aim of this vision is to make moving value online as easy as moving information.
It will also be used to accelerate the recruitment of new talent to better serve the community of customers and partners, as well as market demands.
2019 will end as the strongest year of growth for the company to date, despite the difficulties experienced throughout the year by the XRP cryptocurrency.
The RippleNet global payments network has grown with over 300 customers worldwide, including the historic strategic partnership with MoneyGram. Today this network has customers in over 45 countries, with payment capabilities in over 70 countries.
The number of transactions has grown 10-fold, and an increasing number of banks and payment service providers are using XRP to raise liquidity.
Furthermore, there was also the implementation of Xpring, the developer platform that offers tools, services and programs that make it easy for developers to send and receive payments in any currency using XRP Ledger and Interledger Protocol (ILP), thus eliminating the difficulties of integrating payments into apps.
Ripple’s CEO, Brad Garlinghouse, commented:
“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”.