Rapyd, an Israeli fintech-as-a-service company, has announced a whopping $300 million Series D round, doubling its valuation to $2.5 billion. The new financing will be used to double the engineering and product teams, as well as expand the platform’s “self-service” onboarding, a feature SaaS products usually depend on.
Following the acquisition of European card acquirer Korta in April 2020, the company is also exploring additional strategic deals in the Americas, Asia-Pacific and Europe, Middle East and Africa — pretty much anywhere in the world.
The round was led by Coatue. New investors came on board, including Spark Capital, Avid Ventures, FJ Labs and Latitude; while previous backers joined again, such as General Catalyst, Oak HC/FT, Tiger Global, Target Global, Durable Capital, Tal Capital and Entrée Capital.
Founded in 2016, Rapyd most recently raised about $120 million in a Series C round at the end of 2019. The company has offices in Tel Aviv, London, Amsterdam, Iceland, California and Singapore.
Photo: Rapyd co-founders Arkady Karpman (VP R&D), Arik Shtilman ( CEO) and Omer Priel (VP Corporate Development)