Ripple Plans Global Expansion with $200M Series-C Funding

Posted on Dec 20, 2019

Ripple has raised $200 million in Series C funding, with plans to increase the global adoption of digital asset XRP and the XRP Ledger. The tech firm also intends to seek out and employ talent around the world to support its expansion plans. Brad Garlinghouse, Ripple’s CEO, has stated that the company’s strengthened financial position will allow them to carry out their vision as they demonstrated “industry leadership throughout 2019”, as other companies in the market have continuously fallen behind. Reportedly, the Series C round has increased the value of Ripple to $10 billion, with the firm expecting their customer base to grow by nearly 40% and transaction volume to rise over 600% in the next year. Research indicates that over the past year Ripple has sold $260 million worth of XRP, and momentum for their ODL (On-Demand Liquity) Solution has continued to rise.