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Rapyd adds additional USD 20 mln

Wednesday 4 December 2019 08:39 CET | News

Rapyd, a UK-based startup, has picked up an additional USD 20 million, according to TechCrunch.

Rapyd has built an API that lets customers tap into a range of financial services spanning payments, checkout, funds collection, fund disbursements, compliance as a service, foreign exchange, card issuing and soon logistics across a wide range of geographies.

The USD 20 million comes from new investment company Durable Capital Partners. Rapyd’s valuation with the funding is now at USD 1.2 billion (up from just under USD 1 billion in October 2019).

It was only in October 2019 that Rapyd announced a USD 100 million raise, led by Oak HC/FT. Tiger Global, Coatue, General Catalyst, Target Global, Stripe, and Entrée Capital participated in the funding round.

Durable is the company founded by Henry Ellenbogen, formerly an investor at T. Rowe Price, in what Rapyd said was the company`s first investment. 

Rapyd is now is gearing up to make some acquisitions, as it too moves in on the consolidation trend by adding in more tools into its services.

 

 


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Keywords: Rapyd, payments, checkout, funds collection, fund disbursements, compliance as a service, foreign exchange, card issuing, investment
Categories: Banking & Fintech | Payments General
Countries: World
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Banking & Fintech






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