Joining the round are several new investors including funds managed by Fidelity Management and Research Company, Altimeter Capital, Whale Rock Capital, BlackRock Funds, and Dragoneer, along with participation from existing investors: General Catalyst, Latitude, Durable Capital Partners, Tal Capital, Avid Ventures, and Spark Capital. The financing comes shortly after Rapyd’s acquisition of Valitor, a European payments and card issuing company, for USD 100 million, and the launch of Rapyd Ventures, the company's venture arm.
The additional funds will enable Rapyd to capitalise on emerging opportunities driven by the demand for digital payments, embedded finance, and scalable cloud-based payment infrastructure across all segments and verticals, and will be used to accelerate the company’s growth through a combination of organic growth, acquisitions, and strategic investments.
Rapyd plans to use the funding 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.
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