Rapyd raises $100M for its ‘fintech as a service’ API, now valued at nearly a $1B valuation
The digital payments market is forecast to balloon to $3 trillion by 2023, and today a startup that lets businesses implement not just payments, but also the many other related (and necessary) services that go along with them, by way of a single API, has raised a big round of funding to meet that demand.
Rapyd, a London-based startup that bills itself as a “fintech as a service” provider, has picked up $100 million, money it will use to expand its platform — which today lets customers use its API to enable checkout, funds collection, fund disbursements, compliance as a service, foreign exchange, card issuing and integration — as well as to make acquisitions and expand its team.
This brings the total raised by Rapyd to $160 million. We understand that the valuation in this latest round comes at a significant spike and is now at close to $1 billion.
“Rapid” is indeed the operative word when it comes to Rapyd: the company is not only riding a wave of strong growth, but this is the second funding round it has raised this year, after raising $40 million in February. Arik Shtilman, co-founder and CEO of Rapyd, says the total payments volume
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