Money transfer company Ripple scores $200m in its Series C round

Money transfer company Ripple has scored $200M in its Series C round which was led by Tetragon.

Other participants included SBI Holdings and Route 66 Ventures. This burst of funding will be used to add additional staff to its team and better serve its customer community.

Ripple is a global payments remittance platform which leverages blockchain technology to instantly send money around the world.

The company now has a global payments network of over 300 customers, spanning 45 countries and payout capabilities for 70 countries. It has been a strong period of growth for Ripple, with it seeing a ten-times year-over-year growth in transactions across the network.

Ripple CEO Brad Garlinghouse 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.”

Last month, Ripple invested $50m into money transfer company MoneyGram, giving it a 9.95% stale in the business.

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