Rapyd Raises $100M in Funding
Rapyd, a London-based fintech-as-a-service provider, raised $100m in financing.
The round was led by Oak HC/FT with participation from Tiger Global, Coatue, General Catalyst, Target Global, Stripe and Entrée Capital.
Rapyd’s global platform provides a number of capabilities including:
- The ability to accept cash, bank transfers, e-wallets, and local debit card payments in over 100 countries
- Disbursements in over 170 countries
- Multi-currency settlement to a single file across 65 currencies
- Advanced real-time foreign exchange services, that on average, provide a lower cost to clients and their consumers, and are more profitable, due to advanced FX hedging technology
- Comprehensive global Know Your Customer (KYC), Anti-Money Laundering (AML), and Counter Financing Terrorism (CFT) services
The company, which raised $40m in Series B financing earlier this year, intends to use the funds to build out its platform and to further build out the Rapyd Global Payment Network.
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