Total amount raised
$770 Millions
Latest funding date
Location
Rapyd has successfully raised significant capital through multiple funding rounds, achieving a valuation of $3.5 billion. The platform offers a comprehensive suite of financial services, integrating global payment methods into a single solution.
Keep reading to explore the intricacies of Rapyd's fundraising journey and the investors backing this innovative fintech platform.
What Is Rapyd?
Founded in 2016, Rapyd is a fintech company based in London, England. The company was established by Omer Priel and offers a platform that integrates various financial services into a single solution.
Rapyd's services enable e-commerce merchants, gig platforms, and traditional banks to create new mobile-friendly solutions by simplifying the complex offering of local payment methods. The platform supports over 900 payment methods in more than 190 countries.
With a workforce of 501-1000 employees, Rapyd continues to expand its global reach, providing comprehensive solutions for card acquiring, multi-currency business accounts, and instant payouts.
How Much Funding Has Rapyd Raised?
- Series B
- Amount Raised: $10M
- Date: June 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and support initial growth phases.
- Series B
- Amount Raised: $40M
- Date: February 2019
- Lead Investors: General Catalyst, Stripe
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the global payment network.
- Series C
- Amount Raised: $100M
- Date: October 2019
- Lead Investors: Oak HC/FT
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate international expansion and product development.
- Series C
- Amount Raised: $20M
- Date: December 2019
- Lead Investors: Durable Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support the company's rapid growth and market penetration.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: January 2021
- Lead Investors: FJ Labs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
- Series D
- Amount Raised: $300M
- Date: January 2021
- Lead Investors: Coatue, Tal Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and enter new markets.
- Series E
- Amount Raised: $300M
- Date: August 2021
- Lead Investors: Tal Ventures, Target Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic acquisitions and further global expansion.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: March 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
Total Amount Raised: $770M. Current Valuation: $3.5 billion.
Key Investors
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies. It has a strong track record of supporting innovative startups.
- Investment Focus Areas: Technology, healthcare, consumer, financial services
- Notable Investments: Airbnb, Stripe, Snap Inc.
- Stripe
- Details: Stripe is a technology company that builds economic infrastructure for the internet. Businesses of all sizes use Stripe's software and APIs to accept payments, send payouts, and manage their businesses online.
- Investment Focus Areas: Payments, financial services, e-commerce
- Notable Investments: Shopify, Instacart, Deliveroo
- Oak HC/FT
- Details: Oak HC/FT is a venture and growth equity firm that invests in healthcare and financial technology companies. The firm focuses on driving transformation in these sectors.
- Investment Focus Areas: Healthcare, financial technology, insurance
- Notable Investments: One Medical, Poynt, Insureon
- Coatue
- Details: Coatue is a global investment firm focused on public and private companies in the technology, media, and telecommunications sectors. It manages both long/short and long-only funds.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: ByteDance, DoorDash, Snap Inc.
- Prosus
- Details: Prosus is a global consumer internet group and one of the largest technology investors in the world. It focuses on building leading consumer internet companies in markets with long-term growth potential.
- Investment Focus Areas: Technology, e-commerce, fintech
- Notable Investments: Tencent, Delivery Hero, PayU
What's Next for Rapyd?
Rapyd's recent acquisition of PayU opens up vast opportunities, enabling transactions in over 100 countries and offering more than 1,200 payment methods. This expansion is set to boost annual revenues beyond $1 billion and increase the workforce to 1,600 employees. The company is well-positioned to leverage PayU's infrastructure and customer base, enhancing its global footprint.
Future fundraising efforts may be on the horizon to support further expansion and technological advancements. The successful $500 million raise indicates strong investor confidence, which could pave the way for additional capital to fuel growth and potential acquisitions.
However, integrating PayU's operations and navigating regulatory requirements across multiple countries present significant challenges. Maintaining a competitive edge in a rapidly evolving industry will require strategic planning and execution. Despite these hurdles, Rapyd's strategic moves position it for continued growth and market leadership.
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