rtmark
LearnBonds.com

Ripple nets $10bn valuation after latest funding round

Blockchain start-up Ripple has gained a hefty $10bn valuation, following a $200m funding round led by New York investment company Tetragon.

The San Francisco-based firm founded seven years ago said it will use the cash to develop its platforms and hire more engineers.

It added that private equity firms SBI Holdings and Route 66 Ventures also took part in the Series C funding.

Ripple helped create XRP cryptocurrency, which is the world’s third most used digital asset, behind Bitcoin and Ethereum, respectively.

 

‘Strong financial position’

It is also behind a blockchain messaging system used by more than 300 banks and financial institutions around the world, including American Express, Santander and MoneyGram.

Ripple chief executive Brad Garlinghouse (pictured) said: “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.”

Digital currencies are notoriously volatile, and in January 2018 the value of XRP lifted to more than $3. However, XRP is currently at around 19 cents, though it lifted more than three per cent in morning trading today following Ripple’s funding announcement.

Ripple said it will use the cash to continue to develop its Xpring platform, which has a range of tools and services, making it easier to send and receive payments in any currency, across any network, using the XRP Ledger and Interledger Protocol.

 

Talent search

It added it would hire “new global talent to meet market demands and better serve its growing community of customers and partners”.

The start-up, founded in 2012, currently employs more than 350 staff in six offices around the world.

The business said it has clients in more than 45 countries and six continents, with payment capabilities in over 70 countries.

 

Trusted & Regulated Stock & CFD Brokers

Rating

What we like

  • 0% Fees on Stocks
  • 5000+ Stocks, ETFs and other Markets
  • Accepts Paypal Deposits

Min Deposit

$200

Charge per Trade

Zero Commission

Rating

64 traders signed up today

Visit Now

75% of investors lose money when trading CFDs.

Available Assets

  • Total Number of Stocks & Shares5000+
  • US Stocks
  • German Stocks
  • UK Stocks
  • European
  • ETF Stocks
  • IPO
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 Zero Commission
  • NASDAQ Zero Commission
  • DAX Zero Commission
  • Facebook Zero Commission
  • Alphabet Zero Commission
  • Tesla Zero Commission
  • Apple Zero Commission
  • Microsoft Zero Commission

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
  • Paypall
  • Skrill
  • Neteller

Rating

What we like

  • Sign up today and get $5 free
  • Fractals Available
  • Paypal Available

Min Deposit

$0

Charge per Trade

$1 to $9 PCM

Rating

Visit Now

Investing in financial markets carries risk, you have the potential to lose your total investment.

Available Assets

  • Total Number of Shares999
  • US Stocks
  • German Stocks
  • UK Stocks
  • European Stocks
  • EFTs
  • IPOs
  • Funds
  • Bonds
  • Options
  • Futures
  • CFDs
  • Crypto

Charge per Trade

  • FTSE 100 $1 - $9 per month
  • NASDAQ $1 - $9 per month
  • DAX $1 - $9 per month
  • Facebook $1 - $9 per month
  • Alphabet $1 - $9 per month
  • Telsa $1 - $9 per month
  • Apple $1 - $9 per month
  • Microsoft $1 - $9 per month

Deposit Method

  • Wire Transfer
  • Credit Cards
  • Bank Account
Users should remember that all trading carries risks and users should only invest in regulated firms. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Roger Baird

Roger Baird is News Editor at Finixio. He has worked as a financial journalist for 20 years reporting on companies, capital markets and the UK economy.