Ribbit Capital, a venture company known for FinTech Investments, has raised $500 million for the new fund in a filing with the U.S. Securities and Exchange Commission (SEC) revealed Wednesday.
The new capital is likely to be part of Ribbit Capital Y, part of the Palo Alto-based venture's latest flagship fund.
In 2023, Ribbit Capital raised $800 million.
The venture has invested in some of the world's largest fintech startups, including Nubank, Affirm and Robinhood. In addition to supporting North American startups, the company is investing in fintech across emerging markets including Indian markets, including Credit, Fi, Grow, Razorpay and PhonePe, among others. We also invested in crypto-centric companies such as Coinbase, Coinswitch and Uniswap.
Interestingly, Ribbit Capital's recent funding is significantly less than the $1.15 billion vehicle raised in 2022.
Nevertheless, since its founding in 2012, Ribbit Capital has backed 243 investments and has led 90 according to the details available on CrunchBase. Crypto Wallet Infrastructure Startup Privy's $15 million round was the latest round led by Ribbit Capital this week.
The company also terminated 24 investments per CrunchBase.
Funding is another signal that once trusted fintech areas are back on the rise. Other indications include a planned IPO for international purchases later paying Darlink Larna, increasing the ratings of lamps and stripes. This was a good for other Fintechs after ServiceTitan had a huge hit IPO in December.
Ribbit Capital did not respond to requests for comment.