Rapyd, a London, UK-based fintech-as-a-service provider, raised $100m in financing.
The round was led by Oak HC/FT with participation from Tiger Global, Coatue, General Catalyst, Target Global, Stripe, and Entrée Capital.
The company, which raised $40m in Series B financing earlier this year, intends to use the funds to build out its platform and to further build out the Rapyd Global Payment Network.
Founded by Arkady Karpman, Vice-President of R&D (left); Arik Shtilman, CEO (middle); and Omer Priel, Vice President of Business Development (right), Rapyd provides a unified cloud-based technology platform for businesses to integrate Fintech and payment capabilities into any commerce application.
Its Rapyd Global Payment Network helps businesses expand in local and cross-border markets by reaching more than four billion consumers with a broad range of local payment methods beyond credit cards.
The company’s solutions are used by e-commerce merchants, gig economy platforms, financial institutions, and technology providers looking to enable highly localized customer experiences.
Rapyd’s global Fintech-as-a-service platform provides a number of capabilities including:
– The ability to accept cash, bank transfers, e-wallets, and local debit card payments in over 100 countries;
– Disbursements in over 170 countries;
– Multi-currency settlement to a single file across 65 currencies;
– Advanced real-time foreign exchange services, that on average, provide a lower cost to clients and their consumers, and are more profitable, due to advanced FX hedging technology;
– Comprehensive global Know Your Customer (KYC), Anti-Money Laundering (AML), and Counter Financing Terrorism (CFT) services.