Ripple, a fintech company specializing in enterprise-grade crypto solutions, announced a $500 million round of funding at a $40 billion valuation. The company leverages blockchain to ensure cross-border payments are faster as well as more transparent and accessible. Its latest funding round, led by Fortress Investment Group, follows a period of growth.
The company completed six acquisitions in recent years, building out its reach in the payments, custody and stablecoin sectors and entering the prime brokerage and treasury management markets. During this time, Ripple also repurchased more than 25 percent of its outstanding shares.
This raise builds on Ripple’s recent $1 billion tender offer, signifying continuous investor interest in the company’s crypto platform. Its offerings include Ripple Custody, a tool for managing digital assets, Ripple Prime, a multi-asset prime brokerage for financial institutions, as well as the stablecoin and cryptocurrency these solutions use to help make traditional finance more efficient.
