The platform has grown rapidly since the acquisition, tripling its revenue year over year, driven by increasing participation from institutional investors across both traditional and digital markets. Ripple Prime President Noel Kimmel said the arrangement would allow the platform to scale alongside client demand.
"Dependable access to financing and balance sheet strength are critical to institutional participants in today's dynamic markets," Kimmel said in a statement. "This facility enables us to grow alongside our clients by delivering increased margin capacity, greater responsiveness, and improved capital efficiency."
The facility gives Ripple Prime the ability to draw up to the full $200 million as client needs evolve, with proceeds earmarked to extend financing for clients operating across both conventional and digital markets.
“Ripple Prime has built an innovative brokerage platform combining fintech-grade technology and agility with bank-level compliance and operational rigor,” said Peter Sterling, head of Neuberger Specialty Finance, in a statement. “This facility reflects our focus on partnering with market leading platforms and is a testament to Ripple Prime’s unique position at the nexus of traditional and expanding markets.”
