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Meyer Malka

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Meyer Malka
Born
Alma materAndrés Bello Catholic University
OccupationTechnology & financial services entrepreneur; founder and General Partner of Ribbit Capital
WebsiteMeyer "Micky" Malka - Ribbit Capital

Meyer "Micky" Malka is a technology and financial services entrepreneur.[1][2] He is founder and general partner of Ribbit Capital (company), a venture capital firm based in Palo Alto, California.[3][4] and his VC firm has now expanded to have $2 billion under management. [5]

Career[edit | edit source]

In 1993, at the age of 19, Malka co-founded Heptagon Group, a securities and investment broker dealer servicing the Venezuelan and U.S. markets, where he served as Chief operating officer.[6] In 1998, Malka developed the online brokerage Patagon.com, Inc.,[7][8] which became Latin America’s first comprehensive Internet-based financial services portal[9] and dealer until its acquisition in March 2000 by the Spanish bank Banco Santander for over $700 million.[10] Malka then served as the interim Chief Executive Officer for OpenBank S.A., an online bank in Spain and Germany.[11]

In 2003, he co-founded Banco Lemon which was acquired by Banco do Brasil, Latin America’s largest bank.[12]

After moving to San Francisco in 2007, in July 2008, Malka co-founded and served as co-Chief Executive Officer of Bling Nation Ltd., a Palo Alto-based mobile payments company until July 2011 when it evolved into Lemon Inc.[6] Lemon was acquired by LifeLock for $50 million in December 2013.[13][14]

In May 2011, Malka co-founded Banco Bracce, a Brazilian financial banking institution specializing in lending for mid-sized companies in Brazil.[11]

In 2012, Malka founded Ribbit Capital, a venture capital firm that targets early-stage companies that use technology to innovate financial services worldwide. Malka raised Ribbit’s inaugural $100 million fund in 2012. Investors include Banco Bilbao Vizcaya Argentaria, Silicon Valley Bank and various institutional investors and individuals such as Social+Capital founder Chamath Palihapitiya and Facebook Vice President of Messaging, David Marcus.[6][15] Ribbit subsequently raised a $124.73 million Fund II in August, 2014, and a $220 million Fund III, in March, 2015.[16]

Through Ribbit, Malka has made investments in several financial services companies, including Credit Karma, Funding Circle, Robinhood, LendingHome, Wealthfront, Invoice2go, ContaAzul, Xapo and Coinbase.[17][18][19][1][20][21]

Malka graduated from Andrés Bello Catholic University in Caracas, Venezuela in 1996 with a degree in economics.[6]

Ribbit Capital[edit | edit source]

Ribbit Capital
Limited Partnership[22]
IndustryVenture Capital
Founded2012
FounderMeyer 'Micky" Malka
HeadquartersPalo Alto, California, U.S.
Key people
Meyer Malka, Nick Shalek, Nikolay Kostov[23]
Websiteribbitcap.com

As of 2015, Ribbit had raised $446 million, the fourth-largest amount of money raised among U.S-based venture capital firms started since 2012.[24][25] Ribbit focuses on technology companies involved in lending, payments, insurance, accounting, tax preparation and personal financial management.[22] It generally invests between $2 million and $15 million in early stage financial start ups.[26]

The firm has invested mostly in companies headquartered in the United States, Latin America, and Europe;[24] between 2014 and 2016 Riibit and Redpoint Ventures were the two most active Silicon Valley investors in Brazilian companies.[27]

The firm also invested directly in bitcoin. In 2014, Ribbit, in concert with Social + Capital Partnership, was reported to control 5% of all bitcoins.[28][29] Aside from direct investments in bitcoin, Ribbit has financed five bitcoin companies.[29]

Ribbit raised three funds between 2012 and 2015,[24] including a $100 million fund in 2013,[30] a $125 million fund in 2014[31] and a $226 million fund in 2015.[24]

Boards[edit | edit source]

Malka serves on the board of directors of Argentinian headquartered online e-commerce platform, Mercado Libre,[32] Credit Karma,[17] an online consumer resource to track financial health and credit services, LendingHome - a technology-enabled mortgage marketplace platform, Invoice2go – a mobile and web application providing simple invoicing, expense-tracking, and reporting tools for small businesses, and Xapo - a secure mobile bitcoin wallet and vault.[19][1]

References[edit | edit source]

  1. 1.0 1.1 1.2 Vinod Sreeharsha (September 10, 2015). "A Venezuelan in Silicon Valley Finds a Niche in Finance". The New York Times.
  2. Vasiliev, Peter (14 November 2016). "The 2016 Fintech Finance 35: Meyer (Micky) Malka". Institutional Investor.
  3. "Ribbit Capital Closes $100M Venture Capital Fund; Launches Inaugural Fund with Four Initial Investments". Business Wire. January 22, 2013.
  4. Venezuelan’s Plan to Reinvent U.S. Financial Services Ozy Magazine
  5. Ribbit Capital Exceeds $2 Billion in Assets Under Management With New Fund Wall Street Journal
  6. 6.0 6.1 6.2 6.3 Serena Saitto (February 28, 2014). "Bitcoin Bull Holds Firm as Mt. Gox Drags Down Currency". Bloomberg.
  7. "Generations NET: Three Young Men Made the First Million Operation in Venezuela". Inversiones. 1 April 2000.
  8. "Bling Nation Launches Community Payment Network for Local, Regional Financial Institutions". Business Wire. November 18, 2008.
  9. "Human C@aplital, Leader of the New Economy. Meyer Malka and Atonin Turco, Two Local Leader of the New Economy, Talk About How They Entered the Field". El Nacion. 20 September 2000.
  10. "Things Could Get Nasty On The Net". Bloomberg Businessweek. April 2, 2000.
  11. 11.0 11.1 "Can Capital Advisory Board". CanCapital.com. Retrieved March 2, 2014.
  12. "MERCADOLIBRE INC" (PDF). EDGAR Online. Retrieved March 5, 2014.
  13. "Leading Identity Theft Protection Company LifeLock Acquires Mobile Wallet Innovator Lemon, Inc". LifeLock. December 12, 2013.
  14. Blair Hanley Frank (December 12, 2013). "Maveron-backed Lemon Wallet sells to LifeLock for $50 million". GeekWire.com.
  15. Tricia Duryee (January 22, 2013). "Ribbit Capital Raises $100 Million With the Goal of Modernizing Money". All Things Digital.
  16. Mark Boslet (March 26, 2015). "Ignition to raise a $200 mln 6th fund, Ribbit targets $220 mln for third". PeHUB.
  17. 17.0 17.1 "Credit Karma Secures $30 Million in Series B Funding". Marketwired. April 2, 2013.
  18. "Funding Circle secures Series C led by Accel". peHUB Reuters. October 24, 2013.
  19. 19.0 19.1 "The 2015 Fintech Finance 35: Meyer (Micky) Malka, Ribbit Capital". Institutional Investor. November 9, 2015.
  20. "ContaAzul Raises Series B Funding". Business Wire. November 4, 2013.
  21. Sarah E. Needleman (May 7, 2013). "Coinbase Nabs $5M in Biggest Funding for Bitcoin Startup". The Wall Street Journal.
  22. 22.0 22.1 McBride, Sarah (22 June 2013). "Ribbit Capital raises $100 million finance-focused fund". Reuters. Retrieved 15 May 2016.
  23. Rizzo, Pete (30 January 2015). "Ribbit Capital's Micky Malka Talks Bitcoin's Slow Road to Mainstream". CoinDesk. Retrieved 18 May 2016.
  24. 24.0 24.1 24.2 24.3 Sreeharsha, Vinod (10 September 2015). "A Venezuelan in Silicon Valley Finds a Niche in Finance". New York Times. Retrieved 15 May 2016.
  25. Chernova, Yuliya (2018-09-13). "Ribbit Capital Exceeds $2 Billion in Assets Under Management With New Fund". Wall Street Journal. ISSN 0099-9660. Retrieved 2019-03-29.
  26. Cheredar, Tom (22 January 2013). "Ribbit Capital lands $100M fund for finance-focused startups". Venture Beat. Retrieved 15 May 2016.
  27. Sreeharsha, Vinod (December 7, 2016). "DST Global Leads $80 Million Private Investment in Nubank". The New York Times.
  28. Saitto, Serena (28 February 2014). "Bitcoin Bull Holds Firm as Mt. Gox Drags Down Currency". Bloomberg L.P. Retrieved 15 May 2016.
  29. 29.0 29.1 Kirby, Carrie (31 March 2014). "'Micky' Malka on How Bitcoin Can Help the World's Unbanked". Coindesk. Retrieved 15 May 2016.
  30. Duryee, Tricia (22 January 2013). "Ribbit Capital Raises $100 Million With the Goal of Modernizing Money". All Things D. Retrieved 15 May 2016.
  31. O'Neil, Lorena (27 August 2013). "ONE VENEZUELAN'S PLAN TO REINVENT U.S. FINANCIAL SERVICES". Ozy. Retrieved 15 May 2016.
  32. "MercadoLibre Inc MercadoLibre Inc". Reuters. Retrieved March 5, 2014.

External links[edit | edit source]


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