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Ripple Facilitates Mercy Corps Investment in 42 Startups Spanning 23 Countries

Ripple pumped a $10 million contribution into Mercy Corps Ventures in October 2020 through its Impact initiative.

Mercy Corps Ventures recently disclosed that Ripple had played a pivotal role in helping them invest in an extensive list of 42 portfolio companies spanning 23 countries worldwide. The disclosure underscores Ripple’s expanding impact in the tech and finance industries as it works to bring financial inclusion to everyone.

Scott Onder, the Chief Investment Officer (CIO) of Mercy Corps Ventures, revealed the development in an interview session with the Ripple team. According to Onder, the majority of the companies it has invested in with Ripple’s support were founded by females, highlighting the venture capital firm’s dedication to promoting female-founded businesses.

Since 2020, Ripple has supported and collaborated with Mercy Corps Ventures to expand financial inclusion in emerging markets.

Onder further noted that these investments have considerably impacted the companies in question, as they have collectively reached a noteworthy customer base of 15.5 million individuals with valuable products and services. The firms have also attracted $396 million in subsequent financing.

(By MARK BRENNAN)

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