U.S.-based start-up Ripple, a provider of blockchain-based cross-border payments technology for banks, said on Thursday it has raised a $55 million Series B from investors including Standard Chartered, Accenture Ventures, SCB Digital Ventures and SBI Holdings
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Big Foreign Banks Invest $55M in Payments Startup Ripple
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"We have a ton of resources now that will allow us to continue to grow," said Larsen in an interview with Reuters. "The team is now about 135 people. And we're aggressively growing, especially in our integration and engineering groups." Existing Ripple investors include Google Ventures, venture capitalist Andreessen Horowitz, IDG Capital Partners, and AME Cloud Ventures. Ripple aims to ultimately enable the exchange of value as seamlessly and quickly as exchanging information. It reduces the cost of settlement by enabling banks to transact directly, optionally using the digital asset Ripple.
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