Ripple, a San Francisco-based cryptocurrency payments company, announced a $500 million funding round on November 5, 2025, valuing the firm at $40 billion. The raise was led by investors including Fortress Investment Group, Citadel Securities, and Pantera Capital. This funding comes after a strong year for Ripple, marked by expansions and the resolution of a major legal case.
Ripple, founded in 2012, has now raised just under $800 million in total funding, according to Crunchbase data. The latest round was led by funds managed by affiliates of Fortress Investment Group and Citadel Securities, along with Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. Other backers include Andreessen Horowitz, Lightspeed Venture Partners, Abstract, and Standard Chartered Bank.
The funding follows a recent $1 billion tender offer at the same $40 billion valuation, though reports indicate Ripple 'came up empty-handed' in attempting to buy back $1 billion worth of shares from employees. Ripple executives described 2025 as the company's 'strongest year to date.' CEO Brad Garlinghouse stated in a release: 'We started in 2012 with one use case – payments – and have expanded that success into custody, stablecoins, prime brokerage and corporate treasury, leveraging digital assets like XRP. Today, Ripple stands as the partner for institutions looking to access crypto and blockchain.'
Over the past two years, Ripple has completed six acquisitions to broaden its services in payments, custody, stablecoins, prime brokerage, and treasury management. Notable deals include the $1.25 billion acquisition of brokerage house Hidden Road in April 2025. In March 2025, the U.S. Securities and Exchange Commission dropped its legal case against Ripple, which had accused the company of conducting an illegal securities offering.
This raise aligns with a robust year for fintech venture funding, which reached $43.5 billion across 3,188 deals as of November 5, 2025—a 26.8% increase from $34.3 billion across 4,214 deals in the same period of 2024.