Funding round
Ripple Growth
Reported as "Growth Equity"
Ripple, which works in blockchain solutions development in San Francisco, raised $500M in a Growth round announced on 5 Nov 2025, led by Fortress Investment Group and Citadel Securities, at a $40.00B post-money valuation. 6 firms took part. It is Ripple's sixth venture round on record; the one before was a Series E in Sep 2021.
$500M
Amount raised
$40.00B
Post-money valuation
6
Investors
2 leads
112x
Step-up from the Series E
$357M in Sep 2021
1.3%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Ripple at $40.00B after the new money, 112.0 times the $357M of its Series E (Sep 2021). The $500M bought investors about 1.3% of the company. It came 50 months after Ripple's Series E. It is 59% of the $847M Ripple has raised in the venture rounds on record. No later venture round is on record for Ripple.
Ripple's funding rounds
Ripple has 6 venture rounds on record and 1 other deal. This one is highlighted.
- Seed 1 Jan 2013 $3.5M
- Series A 19 May 2015 $28M
- Series B 15 Sep 2016, led by SBI Holdings $55M
- Series C 20 Dec 2019, led by Tetragon $200M$10.00B post-money
- Series E 21 Sep 2021, led by Bloom8, Ajax Strategies and S2G Investments $60M$357M post-money
- Growth this round 5 Nov 2025, led by Fortress Investment Group and Citadel Securities $500M$40.00B post-money
- Debt not a venture round 19 Aug 2026 $275M
Investors
Who put money in
Fortress Investment Group and Citadel Securities led the round with 4 other firms.
Lead investors
- backs 15 venture-backed companies new investor
- Citadel Securities new investor
Also in the round
- backs 99 venture-backed companies new investor
- Galaxy backs 113 venture-backed companies new investor
- Brevan Howard new investor
- Marshall Wace new investor
Comparable rounds
How it compares
21 Growth rounds in Cryptocurrency within a year either side disclosed an amount; the median was $135M, and this round was 3.7 times the median. The closest in time, other companies' Growth rounds in Cryptocurrency:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cryptocurrency | 18 Nov 2025 | $800M | $20.00B | Jane Street and DRW |
| Cryptocurrency | 11 Nov 2025 | $68M | $1.50B | Founders Fund and Ribbit |
| Polymarket Cryptocurrency | 1 Oct 2025 | $1.00B | $9.00B | Intercontinental Exchange |
| Cryptocurrency | 31 Dec 2025 | $50M | not disclosed | not named |
| Cryptocurrency | 10 Dec 2025 | $29M | not disclosed | Nimbus Capital |
| Cryptocurrency | 26 Sep 2025 | $500M | $15.00B | not named |
| Cryptocurrency | 18 Sep 2025 | $30M | not disclosed | Lightspeed Venture Partners |
| Anchorage Digital Cryptocurrency | 5 Feb 2026 | $100M | not disclosed | not named |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Ripple raise in its Growth round?
Ripple raised $500M in its Growth round, announced in Nov 2025.
Who led Ripple's Growth round?
Fortress Investment Group and Citadel Securities led it, with Pantera, Galaxy, Brevan Howard and Marshall Wace.
What was Ripple's valuation at the Growth round?
$40.00B post-money.
How does it compare with other Growth rounds in Cryptocurrency?
21 Growth rounds in Cryptocurrency within a year either side disclosed an amount; the median was $135M, and this round was 3.7 times the median.