RAPYD Financial Network is looking to raise $ 300 million in a new financing round that would estimate the global payment platform at $ 3.5 billion, a significant decrease from its evaluation of about $ 9 billion in 2021, According to Bloomberg.
The London -based company offers a set of financial services such as payments, mobile portfolios, money transfer, cards, fraud protection, which can be accessed to third parties via API.
RAPYD plans to use financing to purchase the startup of the payment processing. The nine -year -old company was in a chain of acquisition, and it recently added four companies, including starting payments in Iceland Valitor for $ 100 One million in 2022. It also paid $ 610 million in units of the Payu global payment platform for $ 610 million in 2023.
In 2023, the CEO of RAPYD and co -founder ARIK Shtilman Techcrunch told the company that the company was “in the final stages to close a new financing round of $ 700 million.” The company has not publicly reported the financing round, which makes it unclear whether this financing was secured, and if so, in any evaluation.
That year, Rabia’s opponent, the giant tape of payments, had to raise capital with a value of $ 50 billion, a decrease from the peak price of 95 billion dollars.
If Rabia completed this increase with less than its peak, it will have a lot of companies. In addition to Stripe, many startups raised the capital with lower assessments than their previous financing, known as the lower round.
This is because the assessments were excessively high during the VC financing madness 2020 and 2021. Flat or down tours reached a high decade, consisting of 27 % of all deals in the first nine months of 2024, according to Pitchbook data.
Coatue supporters, OAK HC/FT, Target Global and Tiger Global Management. Rabia did not immediately respond to a request for comment.
