This Ripple company profile covers the company's valuation, revenue, funding rounds, investors and history. Ripple works in fintech, with a focus on crypto payments, custody and stablecoins. It was founded in 2012 and is headquartered in San Francisco, California, United States. Its latest valuation on record is US$50 billion (share buyback) (March 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
| Metric | Value | As of | Source |
|---|---|---|---|
| Tender offer | US$1 billion tender offer at the same US$40 billion valuation shortly before the round | 2025 | CoinDesk |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Mar 2026 | Share buyback / tender offer | Up to US$750M | US$50B | Ripple (company buyback) | The Block |
| Nov 2025 | Strategic equity round | US$500M | US$40B | Fortress Investment Group affiliates, Citadel Securities affiliates, Pantera Capital, Galaxy Digital, Brevan Howard, Marshall Wace | CNBC |
| 2019 | Series C | US$200M | US$10B | Tetragon (lead) | CoinDesk |
Ripple timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2012 — Ripple is founded in San Francisco by Chris Larsen and Jed McCaleb.
- 2019 — Series C: US$200M, valuing the company at US$10B. Investors: Tetragon (lead).
- Nov 2025 — Strategic equity round: US$500M, valuing the company at US$40B. Investors: Fortress Investment Group affiliates, Citadel Securities affiliates, Pantera Capital, Galaxy Digital, Brevan Howard, Marshall Wace.
- Mar 2026 — Share buyback / tender offer: Up to US$750M, valuing the company at US$50B. Investors: Ripple (company buyback).
- 2025 — Tender offer: US$1 billion tender offer at the same US$40 billion valuation shortly before the round.
Investors
Overview
Ripple is a San Francisco company that builds payment and financial infrastructure using blockchain technology. Its products help banks, payment companies and businesses move money across borders, hold and safeguard digital assets, and use stablecoins. Ripple is closely associated with XRP, a cryptocurrency running on the XRP Ledger, which Ripple uses in some of its payment products and of which it holds a large amount. In 2024 it launched its own US dollar stablecoin, RLUSD.
Ripple was founded in 2012 by Chris Larsen, a fintech entrepreneur who earlier co-founded E-Loan and Prosper, and Jed McCaleb, who later left to found Stellar. Brad Garlinghouse has been CEO since 2017. Ripple is one of the oldest and most valuable companies in the crypto industry.
What Ripple sells
- Cross-border payments: payment services that let financial institutions send money internationally faster and more cheaply, in some cases using XRP as a bridge between currencies.
- Custody: technology for banks and institutions to store and manage digital assets securely.
- Stablecoins: RLUSD, a US dollar-backed stablecoin aimed at institutional use.
- Prime brokerage and treasury: after acquiring Hidden Road, a prime broker serving institutional traders, and GTreasury, a corporate treasury software provider, Ripple offers services to large financial institutions and corporate finance teams.
How Ripple makes money
Ripple earns fees from payments, custody, prime brokerage and software, and has historically also sold XRP from its holdings. XRP sales were a large source of income in the past, which drew regulatory scrutiny. Ripple doesn't publish detailed financial statements, so we show revenue as not disclosed. Its acquisitions have added more traditional fee-based revenue that doesn't depend on XRP's price.
The SEC case
In December 2020, the US Securities and Exchange Commission sued Ripple, arguing that its sales of XRP were unregistered securities offerings. The case became one of the most closely watched in crypto. In 2023, a federal judge ruled that XRP sales to institutional investors violated securities law, but sales on public exchanges to retail buyers did not. Ripple was ordered to pay a civil penalty, and in 2025, under new SEC leadership, both sides dropped their appeals, ending the case. The outcome removed a major cloud over Ripple's US business and helped clear the way for its later fundraising and acquisitions.
Funding and valuation
Ripple raised venture funding from 2013 onward. Its 2019 Series C raised US$200 million at a US$10 billion valuation, and a 2022 share buyback valued it at US$15 billion. In 2025, after a US$1 billion tender offer for existing shareholders, Ripple raised US$500 million in new common equity at a US$40 billion valuation from funds managed by affiliates of Fortress Investment Group and Citadel Securities, along with Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace. President Monica Long said Ripple didn't need the money but had seen strong demand from institutional investors. The involvement of major Wall Street firms marked a shift in how traditional finance views crypto infrastructure companies.
Acquisitions
Ripple has used its strong balance sheet to buy companies. In 2025 it agreed to acquire Hidden Road, a prime broker, for about US$1.25 billion; Rail, a stablecoin payments company; and GTreasury, a treasury management software company, for about US$1 billion. These deals extend Ripple from payments into services used by trading firms and corporate finance departments, and give RLUSD more ways to be used.
Competitive landscape
Ripple competes with traditional cross-border payment networks such as SWIFT and correspondent banks, money transfer companies, other crypto infrastructure providers including Circle and Coinbase, stablecoin issuers such as Tether and Circle, and fintechs like Airwallex. Its advantages are a long history with banks, a large balance sheet, and regulatory licences in many countries.
What to watch next
Watch the growth of RLUSD, integration of Hidden Road and GTreasury, US stablecoin regulation, any IPO plans, and how much revenue comes from services versus XRP.
Key facts at a glance
Ripple is a San Francisco crypto payments company founded in 2012 by Chris Larsen and Jed McCaleb, led by CEO Brad Garlinghouse. After a US$1 billion tender offer, it raised US$500 million at a US$40 billion valuation in November 2025 from investors including Fortress and Citadel Securities affiliates. In March 2026 it launched a share buyback of up to US$750 million at a US$50 billion valuation. Its SEC case ended in 2025, and it has acquired Hidden Road, Rail and GTreasury.
Why stablecoins matter
A stablecoin is a digital token designed to keep a steady value, usually one US dollar, backed by cash and short-term government bonds. Stablecoins can move around the world in minutes, at any hour, which makes them attractive for cross-border payments, trading and treasury management. US legislation passed in 2025 set rules for stablecoin issuers, encouraging banks and established companies to use them. For Ripple, RLUSD offers a product that doesn't depend on XRP's price and fits directly into its payments and custody services.
Valuing a company with large token holdings
Part of Ripple's value lies in the XRP it holds, whose market price can swing sharply. That makes Ripple's valuation partly a bet on XRP and partly a bet on its operating businesses. When comparing Ripple's valuation with other fintechs, it helps to separate the two. Our guide to tender offers and secondary sales explains why Ripple's tender offer price is also a useful valuation marker.
For any of these uses, testing with small amounts first and checking each provider's licences in your jurisdiction is a sensible first step.
Regulation in this area is changing quickly in many countries.
What this means if you're…
A bank or payment company: compare blockchain-based payment providers on speed, cost, licences and liquidity in your corridors.
A corporate treasurer: stablecoins may become a practical treasury tool; check regulation and counterparty risk carefully.
An investor: separate the value of Ripple's operating businesses from its XRP holdings.
Latest developments (October 2026)
Ripple launched a share buyback of up to US$750 million in March 2026 at a US$50 billion valuation, according to The Block, up from the US$40 billion set in November 2025. The company has said it has no plans to go public and continues to use its balance sheet for acquisitions: it spent more than US$2.4 billion on deals in 2025, including a prime broker and a treasury management platform. Its RLUSD stablecoin and payments business remain the focus. See our crypto infrastructure guide.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Ripple do?
Ripple is a fintech / crypto payments, custody and stablecoins company headquartered in San Francisco, California, United States. It was founded in 2012.
What is Ripple's valuation?
Ripple was valued at US$50 billion (share buyback) as of March 2026, according to The Block. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Ripple make?
Ripple is a private company and has not publicly disclosed its revenue. Figures on third-party sites are usually modelled estimates rather than numbers reported by the company.
What was Ripple's latest funding round?
The most recent financing we have verified is a share buyback / tender offer in Mar 2026: Up to US$750M, at a valuation of US$50B. Source: The Block.
Who are Ripple's investors?
Investors named in public announcements include Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, Marshall Wace and Tetragon.
Who founded Ripple?
Ripple was founded in 2012 by Chris Larsen and Jed McCaleb.
Is Ripple a public company?
No. Ripple is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Ripple headquartered?
Ripple is headquartered in San Francisco, California, United States.