Rapyd provides a broad suite of financial services—payments, mobile wallets, money transfers, card issuing, fraud protection and more—exposed via an API for third parties to integrate. Its platform comprises roughly 900 services covering 100 countries and is positioned as embedded fintech infrastructure that bridges local payment services. Rapyd is experiencing rapid growth: total payment volume is on target to surpass $20 billion this year (up fourfold from $5 billion in 2020), and it serves about 12,000 small and medium-sized businesses plus roughly 650 large enterprise clients. Management says revenues have grown 3.5x since its Series D seven months earlier. The company plans to deploy new capital toward acquisitions and R&D, has already acquired Valitor for $100 million, and launched Rapyd Ventures to pursue further M&A. Product priorities include expanding identity management, KYC and fraud/compliance capabilities to accelerate customer onboarding. Rapyd offers an API-based fintech-as-a-service platform that bundles payments, banking services, fraud protection and a wide array of financial features into a single integration. The company says it has loaded hundreds (even thousands) of features and serves about 5,000 business customers, onboarding roughly 500 new customers each week. Rapyd was hatched in Israel and opened for business in 2017. The startup plans to use new funding to expand its team, build additional technology including expanded fraud ID services and a wider marketplace, and pursue selected acquisitions. CEO Arik Shtilman positions Rapyd as a global infrastructure player that abstracts local payment complexity for customers and aims to become the AWS of this space. The company has seen accelerated growth during the COVID-19 pandemic and raised capital at a higher valuation compared with its $1.2 billion valuation in December 2019. Rapyd provides a single API that lets customers access a broad set of financial services including payments, checkout, funds collection, fund disbursements, compliance-as-a-service, foreign exchange and card issuing, with logistics planned. The platform serves e-commerce merchants, gig-economy platforms (including Uber), financial institutions and technology providers. Rapyd has focused on expansion in Asia Pacific and Latin America and signed 20 additional large-scale companies in the last three months. Much of the company’s technology has been built in-house, though management is pursuing acquisitions to add capabilities faster. The company is piloting logistics in Indonesia as part of a roadmap to offer logistics-as-a-service and is discussing further integrations with partners. Rapyd recently reached a $1.2 billion valuation following new funding. Rapyd is a London-based "fintech as a service" platform that offers a single API enabling checkout, funds collection, disbursements, compliance-as-a-service, foreign exchange, card issuing and integrations. The platform supports acceptance of cash, bank transfers, e-wallets and local debit in more than 100 countries, disbursements in over 170 countries, and multi-currency settlement in 65 currencies. Rapyd counts customers such as Uber, large marketplaces, and digital and brick-and-mortar merchants. The company reports its total payments volume on the platform grew more than fivefold this year and it forecasts its revenue run rate will triple compared to 2019, though it does not disclose current revenue figures. Rapyd has expanded marketplace features like escrow management and compliance capabilities and says Asia Pacific and Latin America are its fastest-growing regions. The company plans to use new capital to expand the platform, pursue acquisitions, grow the team, and is working on initial logistics partnerships that will likely launch in Asia Pacific. Rapyd positions its single, expanding API as a differentiated offering versus competitors including Adyen, PayPal, WorldPay and Stripe. Rapyd offers a single API that bundles payments, funds collection and payouts, currency transfers, ID verification and card issuing into a unified "fintech as a service" platform. The company plans to use new funding to add more platform functions, hire additional staff, and expand its customer base. Rapyd says it works with about 100 banks (targeting 150), can handle payments and transfers in 65 currencies, and can pay out funds in more than 170 countries. It currently serves roughly 50 customers across e-commerce, gig-economy and similar businesses. Rapyd opened for business at the end of 2017 and is based in Silicon Valley with R&D offices in Tel Aviv. The CEO says the company is on track to make "tens of millions" in revenues this year.

Total raised

$760M

Funding rounds

5

Latest round

Series E

Latest activity

Aug 2021