Neuberger Specialty Finance has provided Ripple Prime with a $200 million debt facility. Ripple announced the financing from San Francisco on 11 May 2026, saying funds managed by the lender will support growth in prime services and margin financing.
The facility allows Ripple Prime to draw up to $200 million. Ripple said proceeds will be used to extend financing to clients in traditional and digital markets and to increase the platform's lending capacity.
Ripple Prime is Ripple's multi-asset prime brokerage, providing institutions with clearing, financing and trading across traditional and digital markets.
Ripple agreed to buy Hidden Road for $1.25 billion in April 2025 and completed the acquisition in October, rebranding the business as Ripple Prime. At close, Ripple said the platform served more than 300 institutional customers and cleared more than $3 trillion a year. Since the acquisition, Ripple Prime has tripled its revenue year on year, the company said.
Bloomberg News reported that the facility is asset-based and that Ripple Prime can tap as much as $200 million as institutional clients borrow to trade equities, fixed income and crypto.
Noel Kimmel, President of Ripple Prime, said: "This facility enables us to grow alongside our clients by delivering increased margin capacity, greater responsiveness, and improved capital efficiency. Neuberger Specialty Finance has deep expertise in asset-based finance and a strong understanding of our business model."
Peter Sterling, Head of Neuberger Specialty Finance, said the deal team was led by Jay Berger. "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."
Neuberger Specialty Finance is the dedicated asset-based investment team within Neuberger, a global investment management firm. The group launched in 2018 and focuses on short-duration, asset-based investments. It said it has deployed more than $12 billion since inception across more than 60 portfolio companies, and has offices in New York, Silicon Valley and London.
Neuberger Private Markets, a division of Neuberger, managed more than $155 billion of investor commitments as of 31 December 2025 across primaries, co-investments, secondaries, private credit and specialty strategies.