In a bold stride toward cementing its dominance in the digital finance landscape, Ripple announced Wednesday that it has raised a $500 million strategic investment, rocketing the company’s valuation to $40 billion. The funding round was led by Fortress Investment Group, with heavyweight backing from affiliates of Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace — a lineup that reads like a who’s who of global finance.
Ripple described the funding as more than a capital injection — a strategic alliance designed to deepen ties with financial powerhouses whose expertise aligns with Ripple’s rapidly evolving suite of blockchain products.
“Momentum and Validation” for Ripple’s Expanding Vision
“This investment reflects both Ripple’s incredible momentum and further validation of the market opportunity we’re aggressively pursuing,” said Brad Garlinghouse, Ripple’s CEO. “We’re proud to have the trust of some of the most respected financial institutions in the world.”
Ripple emphasized that this $500 million fundraise underscores investor confidence in the company’s long-term strategy — transforming from a single-use blockchain payment network to a multifaceted institutional crypto ecosystem.
Kirkland & Ellis LLP advised Fortress on the investment, led by partners Kevin Crews and H.T. Flanagan, a signal that Wall Street’s most seasoned legal minds are steering the deal.
