Nasdaq-listed Webus inks $100M funding deal with Ripple Strategy Holdings to support XRP reserve strategy, stock jumps 130% intraday

Nasdaq-listed Webus International Limited announced today it has signed a conditional Securities Purchase Agreement with Ripple Strategy Holdings to access up to $100 million in funding through a senior equity line of credit.

There is limited public information about Ripple Strategy Holdings. However, its name suggests that it operates as a financial vehicle backing XRP-related ventures and blockchain-based companies. The entity has no official affiliation with Ripple Labs, the developer of the XRP Ledger and issuer of the XRP token.

Under the agreement, which is still pending regulatory clearance and underwriter approval, Webus can draw between $250,000 and $3 million per tranche over 24 months, subject to market conditions and capital needs.

The company stated it plans to use the proceeds to support its XRP treasury strategy, including crypto-enabled payments, blockchain-based loyalty programs, and global expansion initiatives.

According to Nan Zheng, CEO of Webus, the $100 million commitment demonstrates Ripple Strategy Holdings’ confidence in its XRP-focused strategy. The deal, which enables Webus to raise capital efficiently and only as needed, allows the company to minimize shareholder dilution, he noted.

“We believe this will help us accelerate growth across North America and Asia-Pacific, and strengthen our leadership in crypto-powered premium mobility,” said Zheng.

The Nasdaq-listed company, which provides AI-driven mobility solutions and premium chauffeur services, has previously established a Delegated Digital-Asset Management Agreement with a mandate cap of up to $300 million for potential XRP treasury operations.

Webus shares spiked 130% intraday but quickly gave up their gains, per Yahoo Finance data. The stock traded at approximately $2.4 at press time.