Funding Mobile Payments

Rapyd Secures US$300 Million From Series E Fundraise To Support Its Expansion Plans

Rapyd, a Fintech-as-a-Service company which provides APIs that helps integrate local payments and fintech capabilities, announced a US$300 million Series E funding round led by Target Global.

Joining the round are several new investors including funds managed by Fidelity Management and Research Company, Altimeter Capital, Whale Rock Capital, BlackRock Funds, and Dragoneer, along with participation from existing investors; General Catalyst, Latitude, Durable Capital Partners, Tal Capital, Avid Ventures, and Spark Capital.

The financing comes shortly after Rapyd’s acquisition of Valitor, a European payments and card issuing company, for US$100 million, and the launch of Rapyd Ventures, the company’s venture arm.

Rapyd plans to use the funding to make several more strategic acquisitions to both support expansion in key markets and grow payment products and experiences.

This will increase the scale of Rapyd’s platform not just across geographies, but also across verticals and solutions.

Rapyd had recently raised US$300 million Series D financing round led by Coatue in January this year.

Arik Shtilman

Arik Shtilman, co-founder and CEO of Rapyd said,

“We will continue to expand our presence across high-growth markets in Europe, Asia-Pacific, the US, and Latin America, where Rapyd’s platform can support businesses looking to grow internationally.

We are doubling down on our channel partnerships strategy, strengthening our footprint across major high-growth markets, and exploring additional acquisitions that serve our strategic goals.”

Featured image: Arik Shtilman, co-founder and CEO of Rapyd