Ripple was ranked No. 123 on the 2020 Inc. 5000 list. The 2020 list recognizes revenue growth from 2016-2019 among US-based, privately held, independent companies.
It is one of the leading US business magazines, rated on 5,000 businesses, and Ripple has the honor of being recognized as one of the fastest-growing companies, with a ranking of 123.
We’re excited to rank 123rd on the 2020 #Inc5000 list of America’s fastest-growing private companies!
Thank you to our amazing team who bring passion to their roles every day. https://t.co/ZAnGbZGpM1
— Ripple (@Ripple) August 17, 2020
Ripple 3.039% growth is the fastest growing
According to magazine estimates, Ripple was founded in 2012, having achieved a whopping 3,039% growth over the past three years (the average increase is 165%).
The RippleNet network that connects banks and major financial institutions surpassed 300 customers last year. Ripple’s valuation soared to $ 10 billion in December 2019 after the end of a $ 200 million Series C funding round led by New York-based Tetragon Financial Group.
It owns 55% of the total XRP supply, using the token as the bridge currency for its On-Demand Liquidity (ODL) product.
While setting a record for the company’s shotgun strategy regarding XRP adoption, Ripple CEO Brad Garlinghouse revealed that the ODL volume had increased 11 times in a year. Overall, more than 2 billion transactions with a nominal value of $ 7 billion have been processed on the RippleNet network.
While Ripple is the highest-ranked blockchain-related company, some private companies have seen more impressive progress in the financial services division.
The National Mortgage Bank is leading in the category with 16,395 percent growth.
Meanwhile, Georgia-based security startup OneTrust topped the list (48,337%). After raising an additional $ 210 in February, it is now worth $ 2.7 billion even though it was only founded four years ago.
Read more:
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