Ripple

blockchain

FOUNDING YEAR: 2012
LOCATION: United States
Last Update: 01/05/2020

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

About

Ripple provides infrastructure and transaction protocols that enable banks to provide financial settlements at lower costs via a distributed network. This is done by enabling banks to transact directly, instantly, and with the certainty of settlement. The Ripple settlement infrastructure or the Ripple protocol enables two critical functions – a common ledger to connect banks & payment networks and a real-time funds-exchange to settle transactions. Recently, Ripple was selected for the 2019 Forbes FinTech 50 startups list.

Focus

PRODUCTS & SERVICES

Ripple offers plug-and-play products for banks and financial institutions to meet their needs for real-time cross-currency settlement and FX market making. It also provides direct support (consultative, professional services, technical development) to its partner banks and market makers.

REVENUE MODEL

Though the revenue model is not disclosed, Ripple could be earning revenue for professional services provided to business partners/clients and from software integration provided to banks/FS firms.

MAIN CLIENTS

Banking CLIENTS: Standard Chartered

UniCredit

Bank of America Merrill Lynch

RBC

Westpac

Santander

CIBC

UBS

Mizuho

NAB

ATB Financial

BMO

SHRB

SCB

NBAD

Cross River Bank

CBW Bank

Fidor Bank

and Reise Bank.

EXISTING PARTNERSHIPS

Integration partners: Accenture

CGI

Expertus

intellect

and Volante.

PRIMARY PROBLEM SOLVED

Ripple solutions lower the total cost of settlement by enabling banks to transact directly, instantly, and with the certainty of settlement.

COMMENT

Banks exchange payment and fee information on Ripple before payments execute, minimizing the risk of failure. Funds are settled between Ripple-connected banks in seconds with end-to-end visibility into every transaction.

Traction

VALUATION / MARKET CAP:

$5 B in 2016

VALUATION COMMENT:

After the latest round, the company's valuation is at $5 billion. (Sep 2016)

ACTIVE USERS COMMENT:

Currently, Ripple's network is being used by 200 customers including the top 15 global banks. (Feb. 2019)

People

FOUNDERS

Chris Larsen

Arthur Britto

Ryan Fugger

BOARD MEMBERS AND ADVISORS

Chris Larsen

Susan Athey

Feng Li

Mariano Belinky

Doug Chertok

Young Guo

David Schwartz

Gene Sperling

Michael S. Barr

Donald Donahue

Karen Gifford

Karl-Theodor zu Guttenberg

Greg Kidd

Anja Manuel

and Matthew Mellon.

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Abstract Ventures

Accenture

and SBI Investment.

Andreessen Horowitz

Avant Global

Bitcoin Opportunity Fund

Blockchain Capital

China Rock Capital

CME Ventures

Core Innovation Capital

Crypto Currency Partners

Digital Currency Group

Google Ventures

IDG Capital Partners

Jesse Powell

Lightspeed Venture Partners

Pantera Capital

Route 66 Ventures

RRE Ventures

Santander InnoVentures

KEY EMPLOYEES:

Brad Garlinghouse (CEO)

Asheesh Birla (VP – Product)

Nilesh Dusane (VP – Global Sales & Client Relations)

Patrick Griffin (EVP – BD)

Chris Kanaan (VP – Engineering)

Cameron Kinloch (VP – Finance)

Monica Long (VP of Marketing)

Stefan Thomas (CTO)

Momentum

FUNDED

YES

TOTAL FUNDING

$121.6 M

DATE OF LAST FUNDING

Feb 2018

SEED & PRIOR FUNDING

$6.6 M

SEED CLOSED ON

Nov 2013

FUNDING SERIES

SERIES A  · $60 M  · Oct 2015

SERIES B  · $55 M  · Feb 2018

LISTED

NO

Innovation Programs

BASICS

FOUNDING YEAR:

2012

LOCATION:

United States

Views:

664 VISITORS | 1195 VIEWS
LATEST FUNDING ROUND

$122 M

TOTAL EMPLOYEES
51-200

About

Ripple provides infrastructure and transaction protocols that enable banks to provide financial settlements at lower costs via a distributed network. This is done by enabling banks to transact directly, instantly, and with the certainty of settlement. The Ripple settlement infrastructure or the Ripple protocol enables two critical functions – a common ledger to connect banks & payment networks and a real-time funds-exchange to settle transactions. Recently, Ripple was selected for the 2019 Forbes FinTech 50 startups list.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

Focus+
Momentum+
Traction+
People+
Other+

Innovation Programs

Join the exclusive global FinTech community

Be a part of the global FinTech community on Slack