Ripple, the company behind XRP closes 2019 in grand style. It has raised $200 million through a Series C funding.
The Series C funding takes Ripple to a new level. Accordingly, the investment reveals the value of blockchain technology in improving global payments. As well as showcasing the usefulness of the XRP digital asset and the XRP Ledger.
CEO of Ripple, Brad Garlinghouse spoke about the development. He said the company is on its way to fulfilling its goals. Also, he believes many companies slowed down their momentum in the year, while Ripple stood out.
Quoting Garlinghouse: “We’re in a strong financial position to execute against our vision. As others in the blockchain space slowed their growth or even shut down, we’ve accelerated our momentum and industry leadership throughout 2019.”
Ripple series C funding
Based on the blog post, companies like Tetragon, SBI Holdings, and Route 66 Ventures contributed in the Series C funding. As a result, Ripple gets the necessary expertise to leverage its platform.
Besides, the agreement hastens up Ripple’s on-boarding of new global talent to meet market demands. Thus, better serve its growing community of customers and partners.
Ripple also claims that the investment supports Ripple’s broader vision for the Internet of Value (IoV). This vision enables the world to move value the same way it moves info.
A brilliant 2019 for Ripple
During the year, the company’s global payments network RippleNet surpassed 300 customers in the world. Accordingly, the company has entered a strategic partnership with MoneyGram.
Presently, the network reportedly holds a customer base in over 45 countries and 6 continents. It has payout capabilities in over 70 countries. Besides, the company experienced a 10x year-over-year growth in transactions across the network. Also, the platform revealed that more banks and payment providers now use XRP to source liquidity on-demand than before.
Additionally, this year Ripple announced the next chapter for Xpring (an open developer platform for money). It reportedly offers tools, services and programs that make its platform easier for developers to send and receive payments in any currency, and across any network using the XRP Ledger and Interledger Protocol.