Rapyd, a London, UK- and Mountain View, CA-based Fintech as a Service company, raised $300m in Series D financing.
The round was led by Coatue with participation from new investors Spark Capital, Avid Ventures, FJ Labs, and Latitude, along with further investment from current investors General Catalyst, Oak FT, Tiger Global, Target Global, Durable Capital, Tal Capital, and Entrée Capital.
Led by Arik Shtilman, co-founder and CEO, Rapyd provides a platform that embeds fintech services into any application and simplifies the complexity of offering local payment methods through an API while managing diverse compliance and regulatory requirements. Businesses can accept and send payments without having to build their own infrastructure through the Rapyd Global Payments Network which supports hundreds of local payment methods including cards, bank transfers, ewallets, and cash.
The company intends to use the funds to double the engineering and product teams, expand the “Self-Service” element of the platform, and grow in core markets that serve B2C and B2B eCommerce payments, marketplace, and financial services businesses.
Following the acquisition and integration of European card acquirer Korta in early 2020, the company is also exploring additional strategic acquisitions in the Americas, Asia-Pacific and Europe, Middle East and Africa.