Ribbit Capital (company)

Ribbit Capital
Limited Partnership[1]
Industry Venture Capital
Founded 2012
Founder Meyer 'Micky" Malka
Headquarters Palo Alto, California, U.S.
Key people
 Meyer Malka, Nick Shalek, Nikolay Kostov[2]
Website ribbitcap.com

Ribbit Capital, founded in 2012, is a global venture capital firm focused on fintech (financial technology).[3][4] As of 2015, Ribbit had raised $446 million, the fourth-largest amount of money raised among U.S-based venture capital firms started since 2012.[3]

History

The firm was founded by Meyer 'Micky" Malka, a Venezuelan serial entrepreneur,[3] who co-founded the online brokerage Patagon, which sold to Banco Santander SA for $750 million in 2000.[4] In 2015, Malka was the only Latin American founder among the top 20 United States-based venture capital firms.[3]

Ribbit focuses on technology companies involved in lending, payments, insurance, accounting, tax preparation and personal financial management.[1] It generally invests between $2 million and $15 million in early stage financial start ups.[5]

The firm has invested in companies headquartered in the United States,[3] Latin America[6] and Brazil,[7] Europe,[8][9] India,[10] and other regions worldwide.[11][12]

The firm also invested directly in bitcoin. In 2014, Ribbit, in concert with Social + Capital Partnership, was reported to control 5% of all bitcoins.[4][13] Aside from direct investments in bitcoin, Ribbit has financed five bitcoin companies.[13]

Ribbit raised three funds between 2012 and 2015,[3] including a $100 million fund in 2013,[14] a $125 million fund in 2014[15] and a $226 million fund in 2015.[3]

Ribbit’s investors include SVB Capital, Silicon Valley Bank’s fund of funds group; Sequoia Heritage; Spanish banking group Banco Bilbao Vizcaya Argentaria S.A.[5] and Iconiq Capital, a wealth management group whose clients include Mark Zuckerberg of Facebook and Reid Hoffman of LinkedIn. Individual investors include David Lawee of Google Capital and Sheryl Sandberg of Facebook.[3]

Investments (partial list)

Company Industry Description Investment Date Size of Round Other Participants
Activehours[16] Personal Lender Alternative to Payday lending where borrower determines their own service fees and can get paid in advance of payday. July 2014 $4.1 million Felicis Ventures
Borro[14] Secured Lender UK-US-based lender providing loans secured by fine arts, antiques, vintage cars and jewelry. March 2014 $112 million Victory Park Capital, Canaan Partners, Augmentum Capital, European Founders Fund, Eden Ventures, Octopus Investments
BTCJam[17] Bitcoin Lending Peer-to-peer bitcoin lending, especially to borrowers in emerging markets such as Brazil. June 2015 $1.2 million 500 Startups, Funders Club
CAN Capital[18] Business Lender Provider of high-interest loans to businesses that can't otherwise get credit. January 2014 $33 million Accel Partners, Meritech Capital Partners, QED Investors
Coinbase[19] Bitcoin Services Financial services for bitcoin users, including facilitating merchant processing transactions. January 2015 $75 million Draper Fisher Jurvetson, Andreessen Horowitz, Union Square Ventures, USAA Federal Savings Bank; Banco Bilbao Vizcaya Argentaria S.A.; NYSE.
ComparaOnline[6] Financial Marketplace Latin American marketplace for insurance and other financial services. September 2013 $11 million Endeavor Catalyst, Rise Capital, Kaszek Ventures
contaAzul[20] Accounting Software Brazil-based provider of accounting and invoicing solutions to small and medium-sized businesses and accounting firms. February 2015 Undisclosed Tiger Global Management, Monashees Capital, 500 Startups, Napkn Ventures
Credit Karma[21] Credit Reports Free credit reports and tools for tracking financial information. April 2013 $30 million Susquehanna Growth Equity, Felicis Ventures
Funding Circle[9] Business Lending U.K.-based peer-to-peer platform for small business loans. July 2014 $65 million Accel, Union Square Ventures, Index Ventures
Fuze Network[22] Bill Payments Facilitates cash payments and transfers for bills and credit cards. March 2012 $2.5 million Matrix Partners
Guia Bolso[23] Personal Finance Brazilian personal finance management platform August 2015 $7 million Omidyar Network, QED Investors, Kaszek Ventures, e.Bricks and Valor Capital
Gusto[24] Human Resources Software for small businesses to manage HR, such as payroll and health insurance. April 2015 $60 million Google Capital, Google Ventures, Emergence Capital
Invoice2go[12] Mobile Invoicing Australian-based mobile invoicing platform for small businesses. November 2015 $15 million Accel Partners
Jetty[25] Insurance Sells insurance to millennials May 2016 $4 million BoxGroup, SV Angel, Red Swan, Social Capital and Graph Ventures
LendingHome[26] Mortgage Marketplace Online loan marketplace for mortgages April 2015 $70 million Foundation Capital, Ribbit Capital, First Round Capital, SAB Capital, Colony Capital and Cowboy Ventures
Money View[10] Personal Finance India-based app for managing bank information and expenses March 2015 $8.5 million Tiger Global, Accel India
Next Insurance[27] Business Insurance Automated analysis and purchase of small business insurance plans. March 2015 $13 million Zeev Ventures, TLV Partners
Pantera Bitcoin Partners[28] Hedge Fund San Francisco based hedge fund buys and sells bitcoins March 2014 Unknown Fortress Investment Group (FIG), Benchmark Capital, Pantera Capital
Parasut[11] Financial Software Turkish financial management solutions for small businesses April 2015 $1.4 million million Revo Capital
Point[29] Home Equity Buys equity stakes in houses as an alternative to home mortgages. March 2014 $112 million Greylock Partners, Andreessen Horowitz, Vikram Pandit, SV Angel and Bloomberg Beta.
Policy Bazaar[30] Insurance India-based online consumer marketplace for insurance, loans, and other financial products. April 2015 $40 million PremjiInvest, Tiger Global, Steadview Capital and ABG Capital
Raisin.com[8] Savings Marketplace German-based savings deposit marketplace allowing deposits across the European Union. August 2015 $25 million Index Ventures, Yuri Milner, Tom Stafford
Robinhood Markets[31] Stock Brokerage Mobile stock trading platform that doesn't charge trading fees. September 2014 $13 million Index Ventures, Howard Lindzon, Aaron Levie, Dave Morin, Jared Leto, Snoop Dogg, and Nasir Jones (Nas).
Wealthfront[32] Investment Software Software-based financial advisor and manager. April 2014 $35 million Index Ventures, The Social+Capital Partnership, Greylock Partners, DAG Ventures
Xapo[28] Bitcoin Services Secures information in guarded vault needed to unlock Bitcoins. March 2014 $20 million Fortress Investment Group (FIG), Benchmark Capital, Pantera Capital

References

  1. 1 2 McBride, Sarah (22 June 2013). "Ribbit Capital raises $100 million finance-focused fund". Reuters. Retrieved 15 May 2016.
  2. ↑ Rizzo, Pete (30 January 2015). "Ribbit Capital's Micky Malka Talks Bitcoin's Slow Road to Mainstream". CoinDesk. Retrieved 18 May 2016.
  3. 1 2 3 4 5 6 7 8 Sreeharsha, Vinod (10 September 2015). "A Venezuelan in Silicon Valley Finds a Niche in Finance". New York Times. Retrieved 15 May 2016.
  4. 1 2 3 Saitto, Serena (28 February 2014). "Bitcoin Bull Holds Firm as Mt. Gox Drags Down Currency". Bloomberg L.P. Retrieved 15 May 2016.
  5. 1 2 Cheredar, Tom (22 January 2013). "Ribbit Capital lands $100M fund for finance-focused startups". Venture Beat. Retrieved 15 May 2016.
  6. 1 2 "ComparaOnline.com Raises $11M in Series B Financing". FinSMEs. 5 September 2013. Retrieved 15 May 2016.
  7. ↑ Heim, Anna (August 2015). "August in Latin America: All the tech news you shouldn't miss from the past month". The Next Web. Retrieved 15 May 2016.
  8. 1 2 O'Hear, Steve (6 April 2016). "Raisin launches pan-European savings marketplace". TechCrunch. Retrieved 17 May 2016.
  9. 1 2 Lunden, Ingrid (16 July 2014). "Funding Circle Gets Funded, $65M More For Its Small Business Lending Marketplace". TechCrunch. Retrieved 17 May 2016.
  10. 1 2 Modgil, Shweta (31 March 2016). "With 3 Mn Users In 2 Years, Here's How Money View Is Changing Fintech For Good". Inc42. Retrieved 17 May 2016.
  11. 1 2 Demirel, Firat (15 April 2015). "Silikon Vadisi merkezli Ribbit Capital'den Paraşüt'e 3.7 milyon TL yatırım". webrazzi. Retrieved 15 May 2016.
  12. 1 2 Beeche, Matt (4 November 2015). "Invoice2go raises $15 million as it launches a new mobile payments feature powered by Stripe". StartUp Daily. Retrieved 17 May 2016.
  13. 1 2 Kirby, Carrie (31 March 2014). "'Micky' Malka on How Bitcoin Can Help the World's Unbanked". Coindesk. Retrieved 15 May 2016.
  14. 1 2 Duryee, Tricia (22 January 2013). "Ribbit Capital Raises $100 Million With the Goal of Modernizing Money". All Things D. Retrieved 15 May 2016.
  15. ↑ O'Neil, Lorena (27 August 2013). "ONE VENEZUELAN'S PLAN TO REINVENT U.S. FINANCIAL SERVICES". Ozy. Retrieved 15 May 2016.
  16. ↑ Dorbian, Iris (23 July 2014). "Ribbit Capital and Felicis Ventures back Activehours app". The PE Hub. Retrieved 17 May 2016.
  17. ↑ Sheiber, Jonathan (5 June 2014). "BTCJam Brings Its Bitcoin-Based Lending Service To Emerging Markets". TechCrunch. Retrieved 17 May 2016.
  18. ↑ Monks, Matthew; Picker, Leslie (20 November 2014). "CAN Capital Said to Weigh IPO With Up to $2 Billion Value". Bloomberg L.P. Retrieved 17 May 2016.
  19. ↑ Vigan, Paul; Casey, Michael (20 January 2015). "Coinbase Raises $75 Million in Funding Round". Wall Street Journal. Retrieved 17 May 2016.
  20. ↑ "ContaAzul Raises Series C Financing". FinSMEs. 20 February 2015. Retrieved 17 May 2016.
  21. ↑ Bilton, Ricardo (2 April 2013). "Credit Karma raises $30M to help flustered consumers track their credit scores". Venture Beat. Retrieved 17 May 2016.
  22. ↑ Perez, Sarah (27 September 2012). "Fuze Network, A Payments Company Focused On The Under-Banked, Raises $2.5 Million Series A". TechCrunch. Retrieved 17 May 2016.
  23. ↑ Witkowsky, Chris (21 August 2015). "Ribbit Capital leads $7 mln funding in GuiaBolso". PE Hub Network. Retrieved 17 May 2016.
  24. ↑ Rauber, Chris (23 December 2015). "Gusto CEO: 'I could care less about being a unicorn'". BizJournals. Retrieved 17 May 2016.
  25. ↑ Kulwin, Noah (22 May 2016). "Capital Gains: A Facebook co-founder launches an Asia VC fund and a 'global brand for dogs' lands $60M". Recode. Retrieved 23 May 2016.
  26. ↑ Mac, Ryan (13 April 2015). "Mortgage Marketplace LendingHome Reels In $70 Million From China's Renren". Forbes. Retrieved 17 May 2016.
  27. ↑ Kendall, Marisa (15 March 2015). "Next Insurance aims to make business insurance bearable". Silconbeat. San Jose Mercury News. Retrieved 17 May 2016.
  28. 1 2 Popper, Nathaniel (18 March 2014). "Fortress, Benchmark and Ribbit Buy Stake in Pantera Bitcoin". New York Times. Retrieved 17 May 2016.
  29. ↑ Perlberg, Heather (21 December 2015). "This Startup Wants a Stake in Your Home, Poor Credit No Problem". Bloomberg L.P. Retrieved 17 May 2016.
  30. ↑ Gupta, Bhwanna (14 April 2015). "PolicyBazaar raises around $40M in Series D round led by PremjiInvest". VC Circle. Retrieved 17 May 2016.
  31. ↑ Kokalitcheva, Kia (23 September 2014). "Robinhood snags $13M to make stock trading hip". Venture Beat. Retrieved 17 May 2016.
  32. ↑ Rao, Leena (2 April 2014). "Finance Wealthfront Automated Investment Service Wealthfront Raises $35M From Index, Ribbit Capital". TechCrunch. Retrieved 17 May 2016.

External links

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