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Ribbit Capital , a speculation house eff for its fintech investments , is raising $ 500 million for a novel fund , a filing with the U.S. Securities and Exchange Commission ( SEC ) revealed on Wednesday .
The new capital looks like a part of the Palo Alto - ground speculation firm ’s late flagship investment trust , style Ribbit Capital Y , theSEC filingsuggests .
In 2023 , Ribbit Capitalraised $ 800 million , reportedly for itstenth flagship fund , Ribbit Capital X.
The venture firm has gift in ( and exited ) some of the world ’s biggest fintech startups , including Nubank , Affirm , and Robinhood . In addition to back North American startup , the firm has invested in fintechs across emerging market place , let in those in India , such as CRED , Fi , Groww , Razorpay , and PhonePe , among others . It also endow in crypto - focused companies include the like of Coinbase , CoinSwitch , and Uniswap .
Interestingly , Ribbit Capital ’s recent funds are significantly little than the$1.15 billion vehicleit advance in 2022 . That followed a engaged year for the house , which closed deal even in market like Latin America to capitalize on the world-wide 2021 VC boom .
Nevertheless , since its inception in 2012 , Ribbit Capital has backed 243 investments and led 90 of them , per the detailsavailableon Crunchbase . Crypto wallet infrastructure startupPrivy ’s $ 15 million roundwas the latest led by Ribbit Capital this week .
The firm also exit 24 of its investment , per Crunchbase . The fundraise is yet another signal that theonce - beleaguered fintech areais back on the upswing . Other sign let in theplanned IPO of international buy now , bear later darling Klarnaand the wage increase invaluations of RampandStripe . This after ServiceTitan had ablockbuster IPO in Decemberthat was a in force prognostic for other fintechs .
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Ribbit Capital did not respond to a postulation for remark .
