Robin Chard, 48, from Bicester, Oxfordshire, died after suffering cardiac arrest at Kingston Bridge, Surrey, 25 miles into the 100 mile race, according to a statement from the race organisers.
He had been riding the event to raise money for Cancer Research UK through a fundraising page on the website JustGiving.
At midday today, more than £48,000 had been raised on the JustGiving page. Chard’s original fundraising target was £400, meaning the page had raised almost 120 times what he had targeted.
According to his JustGiving page, Chard had Hodgkin Lymphoma when he was younger. He also lost three family members – his father, step-father and mother-in-law – to cancer.
Ed Aspel, executive director of fundraising and marketing at Cancer Research UK, said: "We send our sincerest condolences to the family of Robin Chard. We are very grateful that he chose to cycle in RideLondon to support Cancer Research UK, and would like to express our deepest sympathy to his loved ones at this difficult time. We are incredibly thankful to everyone who has donated to his fundraising page in his memory.
"Robin and his family had sadly been affected by cancer which is why he chose to fundraise for Cancer Research UK. These generous donations will help fund our pioneering work into the prevention, diagnosis and treatment of cancer, helping us to achieve our ambition of bringing forward the day when all cancers are cured."
In a statement, Chard’s wife, Vickie, said: "Robin was doing something he loved to raise money for Cancer Research UK, a cause that was very important to him after losing his father, his mother’s partner and my mother to cancer. I’d like to thank everyone who has helped and supported Robin and me, especially the event stewards, the event team and the amazing staff at Kingston Hospital."
In a statement, the organisers of RideLondon expressed their condolences to Chard’s family and friends.
The statement also confirmed that 33 riders were taken to hospital during the event, with three seriously injured.