Rapyd, a London, UK-based Fintech as a Service company, raised $300m in Series E funding.
The round was led by Target Global with participation from new investors including funds managed by Fidelity Management and Research Company, Altimeter Capital, Whale Rock Capital, BlackRock Funds, and Dragoneer, along and existing investors General Catalyst, Latitude, Durable Capital Partners, Tal Capital, Avid Ventures, and Spark Capital.
The company intends to use the funds to accelerate growth through a combination of organic growth, acquisitions, and strategic investments. The financing comes shortly after Rapyd’s acquisition of Valitor, a European payments and card issuing company, for $100m, and the launch of Rapyd Ventures, the company’s venture arm.
Led by Arik Shtilman, co-founder and CEO, Rapyd provides tools to power local payments anywhere in the world, enabling companies across the globe to access markets quicker. By utilizing its payments network and Fintech-as-a-Service platform, businesses and consumers can engage in local and cross-border transactions in any market. The platform brings together 900-plus payment methods in over 100 countries.