Ribbit Capital, a enterprise agency finest recognized for its fintech investments, has raised $1.15 billion in new capital in what seems to be an in depth of its seventh fund, in line with a submitting with the U.S. Securities and Alternate Fee (SEC).
The brand new fund, dubbed Ribbit Capital VII LP, is believed to be the ultimate shut of the fund. The quantity is considerably larger than the $750 million the agency was mentioned to be elevating in March of 2021. It’s also greater than double the $420 million it raised in its sixth fund in January of 2020.
Since its 2012 inception, Ribbit Capital had beforehand raised about $1.3 billion in capital, in line with Crunchbase. It has invested (and seen exits) in what are among the world’s largest fintechs as we speak, together with Coinbase, Nubank, Affirm and Robinhood.
Along with this fund, Ribbit’s managing associate Meyer “Micky” Malka is listed as director of an entity known as Bullfrog Capital LP. In keeping with a 2020 submitting related to that Palo Alto-based enterprise capital agency, Bullfrog supposed to boost $500 million from restricted companions. A brand new submitting signifies that the entity really ended up elevating $1.15 billion as effectively.
TechMac reached out to Ribbit and Malka for remark however had not heard again on the time of writing.
2021 was a busy yr for Ribbit, which additionally made quite a few investments in Latin America, even main a number of offers within the area. For instance, Justos, a startup that claims it is going to be the primary insurance coverage firm in Brazil to make use of knowledge when figuring out charges, in October raised a $35.8 million Sequence A spherical of funding led by Ribbit.
The agency has not solely been energetic in North America and LatAm. In March 2021, it led a $65 million extension for Indonesian funding app Ajaib.