California-based Ribbit Capital looks to be continuing its rapid fundraising streak after filing to raise up to $420m for its third fund in three years.
Last year it was revealed the consumer lending and FinTech-focused Ribbit was looking to raise up to $300m for Fund IV, having launched a $220m Fund III raise in 2015.
No capital has been registered for the latest fundraise to date, a filing the firm lodged with the US securities regulator shows.
The seasoned FinTech investors, seeks companies with innovative ways of lending to consumer, while looking at the businesses, payments, insurance, personal financial management, and accounting and tax preparation for businesses
Investments made by Ribbit to date include RobinHood, Coinbase and Affirm, all of which have accrued multibillion-dollar valuations through investment rounds to date.
The firm is very active within the FinTech sector having made at least 11 investments in the space this year alone.
Most recently, Ribbit took part in the $10m equity round of mobile invoicing app Invoice2go. The company raised the capital to support the development of its platform and increase the capabilities offered to small businesses.
Other recent investments include contributions to the InsurTech platform Root Insurance’s $100m round, corporate card for startups Brex’s Series B and the $50m Series C of credit provider Tala.
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