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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