Today payments firm
Ripple said it had raised $200 million in a Series C round led by Tetragon. SBI Holdings with which Ripple has its
SBI Ripple Asia joint venture also participated. And the third investor was Route 66 the venture capital firm which led the Series A round of
Clearmatics, the developer behind the Utility Settlement Coin.
Tetragon is a diversified asset management firm with a net asset value of $2.25 billion as of the end of October. It’s listed on both the London Stock Exchange and Euronext where it has a market capitalization of $1.7 billion. The firm has significant private equity investments, as well as investing in “event-driven equities”, bonds, bank loans, and real estate.
Commenting on the Series C, Ripple’s CEO Brad Garlinghouse stated: “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.”
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
