Ribbit Capital Raises $1.15B in Seventh Fund

Ribbit Capital Secures $1.15 Billion in New Funding

Ribbit Capital, a venture capital firm specializing in financial technology investments, has successfully raised $1.15 billion in a new funding round. This capital infusion is reportedly the final closing of its seventh fund, as indicated in a filing with the U.S. Securities and Exchange Commission (SEC).

Fund VII Details and Growth

The newly established fund, formally known as Ribbit Capital VII LP, represents a substantial increase in capital compared to previous rounds. The amount secured is significantly greater than the $750 million the firm was aiming to raise in March 2021.

This latest fund also surpasses the $420 million raised during its sixth fund closing in January 2020 by more than double.

Historical Funding and Notable Investments

Since its founding in 2012, Ribbit Capital had previously accumulated approximately $1.3 billion in capital, according to data from Crunchbase.

The firm boasts a portfolio of successful investments in prominent fintech companies, including Coinbase, Nubank, Affirm, and Robinhood, many of which have resulted in successful exits.

Bullfrog Capital LP Raises Parallel Funding

Alongside this fund, Meyer “Micky” Malka, a managing partner at Ribbit, is also listed as a director of Bullfrog Capital LP.

A 2020 filing for the Palo Alto-based venture capital firm indicated an initial target of $500 million. However, a recent filing reveals that Bullfrog Capital LP ultimately secured $1.15 billion in funding.

Seeking Comment

TechCrunch contacted both Ribbit Capital and Malka for a statement, but had not received a response at the time of publication.

Active Investment Strategy in 2021

The year 2021 was particularly active for Ribbit Capital, marked by numerous investments, especially within Latin America. The firm actively led several deals throughout the region.

For instance, Justos, a Brazilian startup pioneering data-driven insurance pricing, secured a $35.8 million Series A funding round in October, with Ribbit Capital as the lead investor.

Global Investment Reach

Ribbit Capital’s investment activities extend beyond North America and Latin America. In March 2021, the firm spearheaded a $65 million extension for Ajaib, an Indonesian investment application.