PR90989

LONDON and MOUNTAIN VIEW, Calif., Aug. 3, 2021, /PRNewswire=KYODO JBN/--

- Coming shortly after Rapyd's acquisition of Valitor, a European Digital

Payments and Issuing company

- The financing will be used to support continued strategic M&A in key markets

as well as product enhancements and channel growth

Rapyd [https://www.rapyd.net/ ], a global Fintech as a Service company, today

announced a $300 million Series E funding round led by Target Global. Joining

the round are several new investors including funds managed by Fidelity

Management and Research Company, Altimeter Capital, Whale Rock Capital,

BlackRock Funds, and Dragoneer, along with participation from existing

investors: General Catalyst, Latitude, Durable Capital Partners, Tal Capital,

Avid Ventures, and Spark Capital.

The financing comes shortly after Rapyd's acquisition [

https://www.prnewswire.com/news-releases/rapyd-to-acquire-valitor-expanding-access-to-global-payments-for-its-european-customers-301324467.html

] of Valitor, a European payments and card issuing company, for $100 million,

and the launch of Rapyd Ventures [

https://www.prnewswire.com/il/news-releases/rapyd-launches-a-venture-arm-to-propel-digital-commerce-and-payment-innovation-globally-301304346.html

], the company's venture arm. The additional funds will enable Rapyd to

capitalize on emerging opportunities driven by the unprecedented demand for

Digital Payments, Embedded Finance, and scalable cloud-based payment

infrastructure across all segments and verticals, and will be used to

accelerate the company's growth through a combination of organic growth,

acquisitions, and strategic investments.

"Enabling digital payments has become one of the most fundamental business

needs across every industry as the past year and a half have irrevocably

demonstrated. Being in a position to help companies enhance their ability to

serve customers and expand their reach across global markets is both a

tremendous responsibility and an extraordinary opportunity. We are grateful to

our investors for acknowledging the new needs of our ecosystem and supporting

our aspirations," said Arik Shtilman, co-founder and CEO of Rapyd. "We plan to

use the funding to continue to build out our global fintech as a service

platform and invest in strengthening our network capabilities worldwide. We

will continue to expand our presence across high-growth markets in Europe,

Asia-Pacific, the US, and Latin America, where Rapyd's platform can support

businesses looking to grow internationally. We are doubling down on our channel

partnerships strategy, strengthening our footprint across major high-growth

markets, and exploring additional acquisitions that serve our strategic goals."

Rapyd plans to use the funding to make several more strategic acquisitions to

both support expansion in key markets and grow payment products and

experiences. This will increase the scale of Rapyd's platform not just across

geographies, but also across verticals and solutions.

"Rapyd has built a borderless embedded fintech infrastructure critical to all

digital businesses that operate globally. Their platform incorporates payments,

compliance, FX, fraud management, escrow, virtual account and card issuing, and

more. But now, as the world sees growing traction across global eCommerce, Gig

Economy, Fintech Solutions and Technology platforms, Rapyd must take the next

step. There is currently an unprecedented need for a single partner serving as

a bridge between a vast array of local payment services and merchants,

providing them access to the flexible, fast-to-integrate, and scalable

solutions they need to thrive. Having led Rapyd's Series A in 2018, we are

confident that Rapyd can be such a partner, and are now renewing our bet in

this round," said Mike Lobanov, General Partner at Target Global.

About Rapyd

Rapyd is the fastest way to power local payments anywhere in the world,

enabling companies across the globe to access markets quicker than ever before.

By utilizing Rapyd's unparalleled payments network and Fintech-as-a-Service

platform, businesses and consumers can engage in local and cross-border

transactions in any market. The Rapyd platform is unifying fragmented payment

systems worldwide by bringing together 900-plus payment methods in over 100

countries. Rapyd's investors include Stripe, General Catalyst, Oak HC/FT,

Coatue, Tiger Global, Durable Capital, Latitude, Target Global, and Tal

Capital. To learn more about the company that is accelerating the

Fintech-as-a-Service revolution, visit www.rapyd.net, read our blog [

https://www.rapyd.net/resources/?utm_campaign=2020%20Public%20Relations&utm_source=Rapyd%20Incomm%20Partnership%20Americas&utm_medium=Press%20release&utm_content=Rapyd%20Blog

], or follow us on LinkedIn [

https://www.linkedin.com/company/rapyd1/?utm_campaign=2020%252520Public%252520Relations&utm_source=linkedin

] and Twitter [

https://twitter.com/RapydPayments?utm_campaign=2020%252520Public%252520Relations&utm_source=twitter

].

About Target Global

Target Global is an international investment firm headquartered in Berlin, with

more than EUR2bn in assets under management. With investing offices in London,

Tel Aviv and Barcelona, we connect the key European startup ecosystems and

leverage the unique DNA of each of our target geographies, across our global

network. Building on our experienced team with substantial operational and

investment experience, we help exceptional entrepreneurs to build market

leaders. Target Global invests across multiple stages, investing in

fast-growing tech companies, targeting trillion EUR markets. Our Partners have

been investing for more than 15 years in the digital technology space, backing

some of the key European success stories. The Target Global portfolio includes

companies such as Auto1, Docplanner, Delivery Hero, Rapyd, TravelPerk, WeFox

and Zego. More about Target Global: https://www.targetglobal.vc/

Media Contacts:

Headline Media

Raanan Loew

raanan@headline.media

1-347-897-9276

SOURCE: Rapyd