Ripple Raises $3.5M For Open-Source Protocol

By  |  November 11, 2013
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Ripple Labs, the San Francisco-based decentralized open-source payments network, revealed $3.5 million in new funding on November 12.

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    Camp One Ventures, Core Innovation Capital, IDG Capital Partners and Venture 51 participated in the round, as did a number of unnamed angel investors.

    “We are investing in a veteran leadership team with a vision for using one of the most disruptive innovations in financial services to do good and empower individuals through financial inclusion,” Arjan Schütte, founder and managing partner of Core Innovation Capital, said in a statement.

    To date Ripple has raised $9 million in funding. For more on how Ripple is seeking to disrupt payments, read our interview with Chris Larsen, CEO and co-founder of Ripple’s for-profit arm, OpenCoin, here. 


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