The 6th fund of Ribbit Capital is similar in dimension to its 5th fund
Ribbit Capital was once based through Meyer Malka in 2012
Ribbit Capital has subsidized a lot of Indian fintech startups
US-based funding company Ribbit Capital is having a look to boost $420 Mn for its 6th challenge capital fund to proceed its funding spree in startups, particularly the ones operating within the fintech phase.
As of now, Ribbit Capital has now not raised any funding for this fund, consistent with the United States Securities & Alternate Fee (SEC) submitting. Significantly, the 6th fund of Ribbit Capital is similar in dimension to its 5th fund, which was once to start with introduced in September 2018.
In India, Ribbit has moved in opposition to new fintech fashions and ventures. Lately, the VC fund led a $13.2 Mn seed spherical of the Bengaluru-based neobanking startup Epifi. Sequoia Capital and Hillhouse Capital additionally participated within the investment spherical, which helped Epifi’s valuation to face at $50 Mn inside 8 months of release.
In August 2019, Ribbit Capital additionally invested in Kunal Shah’s bank card loyalty and rewards programme Cred along Sequoia Capital, Hillhouse Capital, Apoletto Asia, amongst others. But even so this, the US-based VC fund additionally invested in B2B fintech startup Razorpay, UPI-based bills platform BharatPe, and Bengaluru-based wealth control platform Groww. So it’s been greater than a hectic 2019 for Ribbit in India.
In previous, the Ribbit Capital budget have invested in a lot of Indian startups. Ribbit Capital has even subsidized Gurugram-based on-line insurance coverage startup PolicyBazaar, which now stands within the area of interest unicorn membership.
But even so those startups, Ribbit Capital has additionally invested in private finance control app MoneyView, Bengaluru-based virtual lending startup ZestMoney, and non-banking monetary corporate (NBFC) Capital Flow, amongst others.
The newest submitting signifies that Ribbit is predicted to ask institutional budget and folks to speculate. The one bar for buyers is they will have to have no less than $five Mn in deployed funding capital to take part within the fund.
Based through Meyer Malka, Ribbit Capital started its first fund in 2012 which was once closed $100 Mn. Whilst Ribbit is most commonly sector-agnostic, the corporate has proven a penchant for fintech startups as indicated through its investments in India.
In previous, Ribbit Capital had gained investments from institutional buyers equivalent to Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) and US-based Silicon Valley Financial institution.
But even so Ribbit Capital, Omidyar Community’s Flourish Ventures could also be probably the most challenge capital which has remained bullish on India’s burgeoning fintech area. Lately, Tilman Ehrbeck, managing spouse at Flourish Ventures, mentioned that the challenge capital company is having a look to ramp up investments in sectors equivalent to neo-banking, gig economic system, embedded finance and insurtech.