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Ripple Adds Santander InnoVentures Fund as Series A Investor

SAN FRANCISCO, CA — (Marketwired) — 10/06/15 — , provider of global financial settlement technology (), today announced that — –s $100 million fintech venture capital fund — has joined its as an investor, bringing the round–s total to $32 million.

Ripple–s Series A funding round included a mix of traditional investment firms and global strategic investors that all support the vision for Ripple to enable an Internet of Value (IoV) by powering the real-time, secure settlement of funds for financial institutions and their customers worldwide.

“Santander InnoVentures is a natural fit in this round because of their demonstrated support for real-time international payments and their commitment to new technologies that enable Santander to empower its customers,” said Ripple CEO and co-founder Chris Larsen. “We are excited to work closely with them in building the Internet of Value and accelerating adoption amongst financial institutions, market makers and businesses worldwide.”

The Santander InnoVentures fund is an investment vehicle designed to partner with portfolio companies and explore new technologies that can be used in support of Santander–s customer base.

“Santander has long been an advocate for modernizing banking infrastructure,” said Mariano Belinky, Managing Partner of Santander InnoVentures. “In our recent , we highlighted the $20 billion opportunity available to the financial services industry, and many of the scenarios where distributed ledger technology will have a positive impact.”

Belinky added: “We believe Ripple possesses the talent, technology, and momentum to address many of these scenarios, and are actively exploring where and how best to apply Ripple technology inside the bank. Ripple and Santander share a common vision of the future of the industry, and we intend to jointly advocate it in the community.”

Other investors in Ripple–s Series A round include , the venture arms of and global data storage company , Jerry Yang–s , , , Wicklow Capital, the investment vehicle for Dan Tierney and Stephen Schuler, co-founders of GETCO (now KCG), , , , , and .

Ripple provides bank-grade solutions that enable the world–s disparate financial networks to securely transfer funds in any currency in real time. Financial institutions use Ripple as an alternative to correspondent banking to facilitate real-time, certain settlement at the lowest total cost possible.

Ripple was created to enable the world to move value as easily as information moves today, giving rise to an Internet of Value (IoV) akin to today–s Internet of Knowledge. For more information about Ripple, please visit .

provides global financial settlement solutions to ultimately enable the world to exchange value like it already exchanges information – giving rise to an Internet of Value (IoV). Ripple solutions lower the total cost of settlement by enabling banks to transact directly, without correspondent banks, and with real-time certainty of settlement. Banks around the world are partnering with Ripple to improve their cross-border payment offerings, and to join the growing, global network of financial institutions and market makers laying the foundation for the Internet of Value.

Ripple is a venture-backed startup with offices in San Francisco, New York and Sydney. As an industry advocate for the Internet of Value, Ripple sits on the and is a member of the .

Launched in July 2014 with a global remit to invest in transformational fintech business, Santander InnoVentures is based in London. The fund builds on the bank–s philosophy of collaboration and partnership with small and start-up companies. Santander InnoVentures provides fintech companies with growth finance, industry expertise and access to Santander–s internal technology and operations organisations.

Through this hybrid approach to investing, Santander Group ensures continuous innovation within its own business to the benefit of customers around the world, as well as helping new fintech businesses to succeed. Santander InnoVentures focuses on working with fintech businesses operating within digital delivery of financial services, e-commerce and payments, online lending, e-financial investments, big data and analytics.

The Fintech 2.0 Paper is a call to action for both banks and fintechs to consider the multi-billion dollar opportunities available through partnership. Download the full paper, exploring these opportunities in-depth and identifying specific use-cases, here:

For more information, visit . Follow Santander InnoVentures on Twitter: .

(SAN.MC, STD.N, BNC.LN) is a leading retail and commercial bank, based in Spain, with a meaningful market share in 10 core countries in Europe and the Americas. Santander is the largest bank in the euro zone by market capitalization and among the top 12 banks on a global basis. Founded in 1857, Santander had EUR 1.51 trillion in managed funds, 12,910 branches and 190,000 employees at the close of June 2015. In the first half of 2015, Santander made ordinary attributable profit of EUR 3,426 million, a 24% increase.

Press Contacts:

Michael Azzano
Cosmo PR for Ripple
504/899-7570

For Santander InnoVentures:
Andy Smith

+44 (0)20 7756 4212

Anthony Frost

+44 (0)207 756 6284

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