Ripple Secured The Highest Amount Of Capital In 2019: Report

Ripple secured the most amount of funding among other blockchain companies in 2019 according to the latest reports that we have in our Ripple news today.

The report by CB Insights shows that Ripple secured about $200 million in Series C round from the investors such as SBI Group, Tetragon Financial Group, and Routee 66 Ventures. The company led y Brad Garlinghouse reached a valuation of $10 billion at that time. The investment round provided help for the XRP issuer to get to the top of the list of blockchain companies by the amount of the funds secured in 2019. Now, Ripple plans to use the funds for talent-hiring and opening of new offices across the globe thus enhancing balance sheet flexibility.

After Ripple comes Figure Technologies in the list of largest funding rounds and this company managed to raise up to $10 million to support the expansion of the blockchain-based platform Provenance. The platform is able to help the users get home equity loans in just a few minutes. Digital Asset and PeerNova are coming next with $35 million and $31 million respectively. The first platform aims to fund developer community projects related to the Digital Asset Modeling Language which is used to faster asset settlement while PeerNova wants to expand its technology in order to help financial institutions handle their data workflow.

Blockchain went mainstream but last year was not as successful for the specialized startups as 2018 was in terms of raised funds. According to the reports, the total equity funding to blockchain startups decreased more than 30 percent in 2019 compared to 2018 and mentions of blockchain in public earning reports also dropped. Ripple’s 0 million would not have even made it to the top three.
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The authors of the research suggest that the reason for the drop is that many of the crypto startups are still having a hard time figuring out the product-market fit. In 2019, the blockchain companies raised a total of $785 million making 164 deals which is a decrease by 36 percent compared to the previous year during the same period.

In 2018, the major blockchain companies such as Coinbase and Bitmain had a lot of contributions and were among the top two fundraisers with $400 million and $321 million respectively. Ripple only raised half of the amount secured by Bitmain.