Rapyd — financial that- startup created in 2016. It develops the digital platform of local payments and cross-border transactions. According to own data of the company, by January, 2021 its service offers more than 900 payment methods, including acceptance of cash in local currency and cashless payments in 2 million collection points for payments and ATMs worldwide. In 2020 service was started in several Asian countries, including India, South Korea and Thailand.
History
2021: Attraction of $300 million, including from Target Global
In January, 2021 Rapyd announced attraction of $300 million investments. Target Global participated in a round of Series D. Also the number of those who invested in a startup included Spark Capital, Avid Ventures, FJ Labs and Latitude, General Catalyst, Oak FT, Tiger Global, Durable Capital, Tal Capital and Entrée Capital.
According to the results of the transaction of Rapyd it was estimated at $2.5 billion. How many means were provided by each of investors, does not reveal.
The involved investments a financial technical-startup are intended to be spent for development of the platform and a personnel increase. In particular, it is going to employ about 100 programmers and also marketing and sales specialists.
Rapyd says that did not expect attraction of so large volume of investments, however in the conditions of COVID-19 coronavirus pandemic business of the company began to grow (the plan for increase in revenue for 2021 was implemented in three months in the 2020th), and together with it also the interest of investors in the project increased.[1]
2018-2019
Target Global for the first time invested in Rapyd in March, 2018 and then became the main investor within the transaction. In February, 2019 the fund repeatedly invested in Rapyd in a round for $40 million. At the end of the same year it became known that Target Global invested in the British financial technical-platform again. The round lead investor With for $100 million became the American fund Oak HC/FT.
Notes
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