FintekNews Deal of the Day – Ripple Lands $55M

Ripple has announced that the firm has raised a $55M Series B round.  The company plans to use the latest funding to hire new international employees, accelerate customer growth and pursue strategic partnerships.  Ripple has worked with Accenture for some time on development of blockchain technology, also referred to as distributed ledgers or distributed financial technology, for banking customers worldwide.

According to their press release…….

“As the only provider of enterprise blockchain solutions, Ripple’s growing, global network includes 15 of the top 50 global banks, 10 banks in commercial deal phases and over 30 bank pilots completed, among many others also using Ripple’s solutions. Today Ripple also announced the addition of several new banks to its growing global network.

Existing Ripple investors include GV (Google Ventures), Andreessen Horowitz, IDG Capital Partners, and Jerry Yang’s AME Cloud Ventures. Ripple has received a total of over $93 million in funding.

Acquisitions
1 Acquisition-SimpleHoney-2013

Total Equity Funding
$93.6M in 7 Rounds from 28 Investors

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