Rapyd, a Fintech-as-a-Service platform has announced a US$300 million Series D financing round. The financing round aims to expand the company’s global fintech and payments platform and enable strategic acquisitions.
Notably, investments are gained from their current investors, Coatue, General Catalyst, Oak FT, Tiger Global, Target Global, Durable Capital, Tal Capital, and Entrée Capital.
New investors have reportedly participated in the financing round too which includes Spark Capital, Avid Ventures, FJ Labs, and Latitude.
Businesses, using Rapyd’s platform, can accept and send payments without having to build their own infrastructure as the platform supports hundreds of payment methods including cards, bank transfers, e-wallets, and cash.
“To start 2021, with this round of funding to invest in our platform, is a vote of confidence to both of the growing need for local payment solutions, and for the company’s vision,” Arik Shtilman the Co-Founder, and Chief Executive Officer (CEO) of Rapyd said.
“A company doing business globally might need to accept hundreds of local payment methods. Rapyd’s API, which abstracts away this complexity, is currently powering the world’s most exciting companies,” Kris Fredrickson, Coatue’s Managing Partner, mentioned.
The company evidently will continue their focus on core markets that serve Business-to-Consumer (B2C) and Business-to-Business (B2B) e-commerce payments, marketplace, and financial services businesses