According to the yesterday’s SEC filing i.e. on 12th Sept., one of the largest venture capital firm in U.S. named ‘Ribbit Capital,’ is launching a new crowd funding scheme to raise funds for its new project. The Funds raised will be reportedly the 5th venture of Ribbit with restricted partners. This new figure of $420 Mln crowdfunding is a nominal increase from the last year’s $300 Mln crowdfunding project.
Founded in 2012, Ribbit’s portfolio is marked by cooperation with trade leaders such as popular digital currency exchange Coinbase, zero-fee stock and free crypto trading platform Robinhood, Credit Karma, and automotive insurance platform Root Insurance.
Ribbit Capital has additionally invested in Andreessen Horowitz, Battery Ventures along with Cross River Bank. The Ribbit Capital is the solely link between different fintech firms and the regulated financial institutions.
Earlier in April this year, U.K.-based secondary banking app ‘Revolut’ raised around $250 Mln in a very similar Series C type investment plan under the Ribbit Capital, in partnership with two other companies named DST Global and Index Ventures. The raised funds added an overall worth of $1.7 Bln and therefore creating them as a ‘unicorn’ – a startup with a worth of over $1 Bln.
Earlier in Feb.,Robinhood also began its services for crypto currencies, after raising $363 Mln in a very series D funding and around $110 Mln in its series C crowdfunding project. Following the funding rounds, Robinhood was valued at a worth of over $5.6 Bln, creating it the 2nd most popular fintech startup company within the United States.
Coinbase, that was launched back in year 2012, has since became to be a frontrunner among several other digital exchanges within the U.S. This year, Coinbase extended its services after it launched its new service Coinbase Pro, and evolution of GDAX that’s geared towards individual traders.