Rapyd reportedly in talks over new $300m funding round at $3.5bn valuation
Rapyd, a London-based paytech, is reportedly in talks to raise $300 million to fuel its acquisition strategy, according to Bloomberg UK.
Rapyd is reportedly seeking $300 million in a new funding round
The report, which cites sources familiar with the matter, does not specify the potential investors but indicates the funding round would value Rapyd at $3.5 billion.
This new valuation represents a significant drop from the $9 billion valuation the company secured following its $300 million Series E funding round in August 2021.
Founded in 2016, Rapyd offers a suite of online and in-store payment solutions, multi-currency business accounts, cross-border payouts, as well as virtual and physical card issuance services.
Bloomberg UK reports that the company may use the potential new funding to purchase an unnamed payment processing start-up, according to its sources.
Rapyd has a history of acquisitions, having previously snapped up Iceland-based payments firm Valitor for $100 million in 2022 and the Global Payments Organisation (GPO) arm of PayU in 2023 for $610 million.
FinTech Futures has reached out to Rapyd for comment.
