Series D+3 August 2021

Rapyd secures £215.5m Series E funding led by Target Global to expand its fintech platform

Target Global led the Series E round to support product enhancements and strategic mergers and acquisitions.

£216MSeries D+

Rapyd provides a fintech as a service platform that powers local and cross border payments for global businesses. The company unifies fragmented payment systems through a comprehensive network spanning multiple countries.

Rapyd has secured £215.5m in a Series E funding round led by Target Global to advance its fintech as a service offering. The investment follows the company acquisition of Valitor and will fund strategic mergers and acquisitions, product enhancements, and channel expansion.

Additional participants in the round include Fidelity Management and Research Company, Altimeter Capital, Whale Rock Capital, BlackRock Funds, and Dragoneer. Existing backers General Catalyst, Latitude, Durable Capital Partners, Tal Capital, Avid Ventures, and Spark Capital also contributed to the financing.

From the founder

"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,"

Arik Shtilman

Co-founder and CEO at Rapyd

Investor perspective

"Rapyd has built a borderless embedded fintech infrastructure critical to all digital businesses that operate globally. Their platform incorporates payments, compliance, FX, fraud management, escrow, virtual account and card issuing, and more. But now, as the world sees growing traction across global eCommerce, Gig Economy, Fintech Solutions and Technology platforms, Rapyd must take the next step. There is currently an unprecedented need for a single partner serving as a bridge between a vast array of local payment services and merchants, providing them access to the flexible, fast-to-integrate, and scalable solutions they need to thrive. Having led Rapyd’s Series A in 2018, we are confident that Rapyd can be such a partner, and are now renewing our bet in this round,"

Mike Lobanov

General Partner, Target Global