Rapyd snags its second $300 million raise this year
Payments-as-a-service platform Rapyd has raised $300 million in Series B funding with the aim of making strategic acquisitions to support expansion in key growth markets.
Israel-based Rapyd in January bagged $300 million in a Series D financing round led by Coatue.
The new financing comes just a month after the firm agreed a deal to acquire Icelandic payments company Valitor from Arion Bank for $100 million. The company in June also launched a venture arm to invest in early-stage fintech startups.
Arik Shtilman, co-founder and CEO of Rapyd, says: “We plan to use the funding to continue to build out our global fintech-as-a-service platform and invest in strengthening our network capabilities worldwide. 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.”