Ribbit Capital Targets $420M Fifth Fund for Fintech Infrastructure

Ribbit Capital announced plans in September 2018 to raise $420 million for its fifth venture fund, a notable increase from its previous $300 million fund. Ribbit is one of the most active investors in fintech, with portfolio companies that include Cross River Bank, a key BaaS provider offering regulated banking services, loan origination, and compliance infrastructure to fintech platforms such as Affirm and Upstart. The larger fund reflects increasing institutional confidence in the fintech infrastructure and embedded finance sectors.

Cross River Bank's model — enabling fintechs to offer lending and banking products through a regulated bank charter — is central to the BaaS ecosystem. Ribbit's expanded capital base positions it to back more companies building the plumbing that connects technology platforms with banking services. The fund raise highlights the maturing investment thesis around bank-fintech partnerships and infrastructure.

No specific financial terms beyond the target fund size were disclosed.