• FOUNDING YEAR: 2012
    LOCATION:
    United States
    REGION:
    California
    Last Update:
    18 Oct, 2019

Description

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:
Viewable by subscribers only
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.

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, , Matthew Mellon.
NUMBER OF EMPLOYEES:
51-200
INVESTORS:
Google Ventures, Crypto Currency Partners, RRE Ventures, Route 66 Ventures, Core Innovation Capital, Bitcoin Opportunity Fund, China Rock Capital, Santander InnoVentures, CME Ventures, Avant Global, Andreessen Horowitz, Blockchain Capital, Digital Currency Group, IDG Capital Partners, Jesse Powell, Pantera Capital, Lightspeed Venture Partners, Abstract Ventures, Accenture, and SBI Investment.
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)

TRACTION

VALUATION / MARKET CAP:
$5 Billions 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)

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$90.64 Millions
DATE OF LAST FUNDING:
Sep 2016
SEED & PRIOR FUNDING:
$3.64 Millions
SEED CLOSED ON:
Nov 2013
FUNDING SERIES:
SERIES A
$32 Millions Closed: Oct 2015
SERIES B
$55 Millions Closed: Sep 2016
LISTED:
NO

LATEST RESEARCH