Fintech Company Rapyd Secures $300 million In Series E Funding

Fazzaco learned that fintech company Rapyd has raised $300 million in a Series E funding round, led by Target Global, with participation from Fidelity Management and Research Company, Altimeter Capital, Whale Rock Capital, BlackRock Funds, Dragoneer, General Catalyst, Latitude, Durable Capital Partners, Tal Capital, Avid Ventures, and Spark Capital. 

According to the official announcement, the fintech will use the investment to make several more strategic acquisitions to both support expansion in key markets and grow payment products and experiences. This will increase the scale of Rapyd’s platform not just across geographies, but also across verticals and solutions.

“Enabling digital payments has become one of the most fundamental business needs across every industry as the past year and a half have irrevocably demonstrated. Being in a position to help companies enhance their ability to serve customers and expand their reach across global markets is both a tremendous responsibility and an extraordinary opportunity. We are grateful to our investors for acknowledging the new needs of our ecosystem and supporting our aspirations,” said Arik Shtilman, co-founder and CEO of Rapyd.

As Fazzaco reported earlier, Rapyd has entered into a definitive agreement with Arion Banki (Arion Bank) to acquire Valitor​, an Icelandic payments solutions company. The deal size is $100 million and subject to regulatory approval. The acquisition will bring Rapyd’s comprehensive digital payments technology to existing Valitor’s merchants and consumers across Europe and accelerate the Fintech’s European expansion.