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The Rapyd Financial Network will earn $ 300 million in a new funding round, which appreciates the global payment platform to $ 3.5 billion, which is significantly reduced compared to $ 2021’s $ 9 billion rating. According to BloombergOr
The London-based company offers a number of financial services, such as salaries, mobile wallets, cash transfer, card issuance and fraud protection, which can be achieved through API for third parties.
RAPYD plans to use funding to buy a payment processing start. The 9 -year -old company was in an acquisition series, recently recruiting four companies, including a payment launch in Iceland Valitor for $ 100 million 2022. He paid $ 610 million for Payu’s global payment platforms for $ 610 million in 2023.
In 2023, RAPYD CEO and co-founder Arik Shtilman told Techcrunch that the company was “a () a () $ 700 million) in the final stage. The company did not publicly report the financing round, so it did not make it clear that financing was provided and, if so, what evaluation.
That year, RapyD competitor, Payment Giant Stripe, was forced to earn capital with $ 50 billion, which was reduced by a summit of $ 95 billion.
If Rapyd finishes this lifting with a lower evaluation of its climax, there would be plenty of companies. In addition to Stripe, many start -ups raised capital with lower evaluation than their previous financing, the so -called Down Circle.
The reason for this is that the ratings were too high during the 2020 and 2021 venture capital frenzy. Flat or downward rounds rose a decade high and accounted for 27% of all transactions in the first nine months of 2024, according to Pitchbook Data.
Supporters include Coatue, Oak HC/Ft, Target Global and Tiger Global Management. Rapyd did not answer the comment immediately.
