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 withtradeleaders 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 hasadditionallyinvestedin Andreessen Horowitz, Battery Ventures along with CrossRiverBank. 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 Mlnin a very similarSeries C type investmentplan under the Ribbit Capital,in partnership with two other companiesnamed DSTGlobaland Index Ventures. The raisedfundsadded an overall worth of $1.7 Bln andthereforecreatingthem 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 Mlnin a veryseries D funding and around $110 Mlnin itsseries Ccrowdfunding project. Following the funding rounds, Robinhood was valued at a worth of over $5.6 Bln,creatingit the 2ndmost popularfintech startup companywithin theUnited States.
Coinbase,thatwaslaunched backin year 2012, has sincebecameto bea frontrunneramong several other digital exchangeswithin theU.S. This year, Coinbase extended its servicesafterit launched its new service CoinbasePro, and evolution of GDAXthat’sgearedtowards individual traders.