Financial Network Rapyd is trying to raise $ 300 million in a new funding round that would estimate the worldwide payment platform to $ 3.5 billion, a significant decrease in $ 9 billion in $ 2021 set by $ 2021, According to Bloomberg.
The London -based company offers a range of financial services such as payments, mobile wallets, money transfers, card issuance and fraud protection, which are accessible to third parties via API.
Rapyd plans to use funding to buy a payment processing boot. The 9 -year -old company is in a series of acquisition, recently adding four companies, including Iceland -based payments Valitor for $ 100 million In 2022, it also paid $ 610 million for the Payu worldwide pay platform for $ 610 million in $ 2023.
In 2023, Rapyd’s chief executive and co -founder Arik Shtilman told TechCrunch that the company was “in [the] Finally stages of closing a new $ 700 million funding round. “The company did not publicly report the funding round, making it unclear whether this funding was guaranteed and, if so, in what valuation.
That year, Rapyd’s competitor, the payroll giant, was forced to raise $ 50 billion rating from the top of the $ 95 billion price.
If Rapyd completes this increase in a lower valuation from its top, it would have enough company. In addition to Stripe, many newly established businesses have raised capital in lower valuations than their previous funding, known as a round round.
This is due to the fact that the valuations were too high during the 2020 and 2021 frenzy frenzy. The rounds or lower rounds hit a decade high, accounting for 27% of all agreements in the first nine months of 2024, according to Pitchbook items.
Company supporters include Coatue, Oak HC/FT, Target Global and Tiger Global Management. Rapyd did not respond immediately to a request for comments.
