Ripple Announces $500M Financing and $40B Valuation

Gunderson Dettmer represented client Ripple, the leading provider of digital asset infrastructure for enterprise, in its new $500 million financing, lifting the company’s valuation to $40 billion.

The round was led by funds managed by affiliates of Fortress Investment Group, affiliates of Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace.

The fundraise follows Ripple’s acquisitions of GTreasury, Rail and Hidden Road as the company expands its product base beyond payments.

In the announcement of the transaction, Ripple said in a statement, “The decision to accept $500 million in new common equity reflects the strategic value of deepening relationships with financial partners whose expertise complements Ripple’s expanding global suite of products.”

The Gunderson deal team was led by Stephanie Lane and included Jenna Finegold.

Companies
Ripple
Fortress Investment Group
Citadel Securities
Pantera Capital
Galaxy Digital 
Brevan Howard
Marshall Wace