Ripple raises $55M in Series B funding round

Investing | September 16, 2016 By:

Ripple, the New York regulated San Francisco based blockchain firm, has announced the completion of a $55 million Series B financing round.

The financing includes participation from new investors including Standard Chartered, Accenture Ventures, SCB Digital Ventures, the venture arm of Siam Commercial Bank, and SBI Holdings. Additional investors participating in the round include Santander Innoventures, the venture arms of CME Group and Seagate Technology, and Venture 51.

“Our mission is to make cross-border payments truly efficient for banks and their customers, and in doing so, lay the foundation for an Internet of Value where the world moves money as easily as information. We’re thrilled to have these world-class investors joining forces with us to help make this vision a reality,” said Ripple CEO & co-founder Chris Larsen.

Alongside the investment, Ripple announced that 8 more banks have signed up to test its technology: Standard Chartered, Westpac, National Australia Bank (NAB), Mizuho Financial Group (MHFG), BMO Financial Group, Siam Commercial Bank and Shanghai Huarui Bank.