In another good sign for fintech, Ribbit Capital is raising a new $500M fund

Ribbit Capital, a venture firm known for its fintech investments, is raising $500 million for a new fund, a filing with the U.S. Securities and Exchange Commission (SEC) revealed on Wednesday. The new capital appears to be a part of the Palo Alto-based venture firm’s latest flagship fund, titled Ribbit Capital Y, the SEC filing suggests. In 2023, Ribbit Capital raised $800 million, reportedly for its tenth flagship fund, Ribbit Capital X. The venture firm has invested in (and exited) some of the world’s biggest fintech startups, including Nubank, Affirm, and Robinhood. In addition to backing North American startups, the firm has invested in fintechs across emerging markets, including those in India, such as CRED, Fi, Groww, RazorPay, and PhonePe, among others. It also invested in crypto-focused companies including the likes of Coinbase, CoinSwitch, and Uniswap. Interestingly, Ribbit Capital’s recent funds are significantly smaller than the $1.15 billion vehicle it raised in 2022. T ... Read full article.