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Ribbit Capital Applies For Opening $420 Million Fund

Published: 14/09/2018
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What is it for?

The investment company Ribbit Capital has filed a request to the US Securities and Exchange Commission to obtain the permission to launch another fund with a reported turnover of $420 million, TechCrunch informs.

 

The global venture firm acts as an investment partner for many well-known companies. It invested in the brokerage company Robinhood Markets and the crypto exchange Coinbase in 2014 and 2015, respectively. To date, the total turnover of these two projects and the financial companies Credit Karma and Cross River Bank is about $20 billion.

 

In 2012, when financial technologies began to gain popularity, Ribbit launched its first fund of $90 million.

 

The declared fund is the fifth establishment supported by Ribbit. Its capital will amount to $420 million. Last year, the company raised $300 million to organize its fourth fund.

 

Meyer “Micky” Malka, the company’s founder, claims that his firm provides services in the territory of both North and South America. For example, among their projects, there are those whose developers are successful Latin American specialists.

 

According to Malka, the business services offered by traditional banks do not provide for the development of financial technologies, and innovative solutions of entrepreneurs do not receive enough investment to "fundamentally change this industry." The venture company Ribbit Capital was founded specifically for this investment.

 

As previously reported, the US platform Robinhood is looking for a financial director to conduct an initial public offering of shares.

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Ribbit Capital fund
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