Ribbit Capital Raises $100 Million
Ribbit Capital is a Silicon Valley based venture capital company that plans to invest in companies that range from lending to mobile payments. Ribbit announced earlier this month that they have raised $100 million. Ribbit will specifically target the financial services sector according to AllThingsD. Some of the companies that Ribbit has already invested in include Borro, Fuze Network, ContaAzul, and Capital Access Networks. Ribbit Capital was founded by Meyer “Micky” Malka.
Malka is known for co-founding companies like Lemon (mobile wallet) and Bling Nation (mobile payments). Malka is also on the board of directors at Wonga, a company that serves as an alternative lender for consumers and businesses. Malka has spent time living in places like Venezuela and Brazil so he knows how international banking works. Some of Ribbit’s investors include Banco Bilbao Vizcaya Argentaria (a Spanish banking group), and Silicon Valley Bank. He also raised funding from institutional investors and angel investors.