By Tobi LobaRipple, the US-based Fintech company, recorded a host of achievements in the just-concluded year. Lots of notable partnerships were sealed by the blockchain tech. The one envisaged as the noblest was its partnership with the money transfer giant, MoneyGram.
The breaking of the big announcement dominated the finance and crypto-based news outlets. The significance of the partnership is not just about the two big companies involved, but the whopping sum invested by Ripple, which made the partnership a reality. The above recapped the long journey of 2019 jampacked with lots of big announcements for Ripple.
Ripple’s Series C Funding Round and its Probable Impact In 2020
Another major announcement used to cap the just concluded year was the Series C funding round. Ripple announced the Series C funding round on 20th December 2019. According to the report, it involved three investors and a total of $200 Million was raised in the process.
Going by the information inferred from Ripple’s Crunchbase business page, the most recent funding round clearly doubled the sum of the previous funding rounds.
According to the record, the sum of the entire funding rounds prior to the Series C funding was $93.6 million, while the Series C funding round alone accrued $200 million, making the total funding received amounts to $293.6 million.
In a simple term, the funding accumulated by Ripple in Series C round has increased its total funding by 300%, which is a clear advancement experienced by Ripple in the just-concluded year.
As technically envisaged, Ripple is now closer to having its company publicly traded, due to the successful completion of its Series C funding that played out in December 2019.
This milestone could also be termed as Ripple’s process of maturity as shared by Finance Zacks. Once a financial company or entrepreneur successfully negotiated and completed a Series C funding round such as Ripple, such a company or entrepreneur is capably ready to prove its worth in the marketplace.
At times, the investment of some growing companies in Series C funding basically meant to go all-in, in order to make its business appealing for acquisition, as well as to support a public offering.
Obviously, Ripple as a financial technology company with many missions is progressing. Presently, it has over 500 trained workers, with offices spread across the continents of the world.
Additionally, Ripple’s worth is now relatively $10 billion and still counting. The Series C funding conducted in December 2019 could serve as means for Ripple to be publicly traded as earlier stressed.
This could as well define a better year packed with growths and developments for Ripple and a means for expansion that would cause the exposure of its digital token XRP. Such exposure is capable of convincing notable investors across the world. However, the year just started, we shall see how things unfold as the year advances.