London-based fintech-as-a-service provider Rapyd has secured $100m in a funding round led by Oak HC/FT.

Oak was joined by Tiger Global, Coatue, General Catalyst, Target Global, Stripe, as well as Entree Capital.

Oak HC/FT co-founder and managing partner Tricia Kemp said: “As financial services become increasingly digitised and global, Rapyd’s fintech-as-a-service approach has tremendous growth potential.

“We’re thrilled to back and partner with the Rapyd team as they tackle one of the biggest challenges in financial services by helping businesses navigate the complexity of local and cross-border digital payments.”

Rapyd plans to utilise the fresh funds to develop its unified cloud-based technology, which facilitates the integration of fintech and payment capabilities into commerce apps.

Besides, the infusion will be used for developing the Rapyd Global Payment Network.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Using Rapyd’s platform, one can accept cash, bank transfers, e-wallets, and local debit card payments in over 100 countries. The platform also supports multi-currency settlement in 65 currencies and disbursements in more than 170 countries.

Rapyd co-founder and CEO Arik Shtilman said: “Global commerce is at a critical inflection point as businesses are pressed to launch new applications, process and accept local payment methods, disburse funds, and manage risk and compliance so they can offer highly localised customer experiences without having to build their own infrastructure.

“The expectation today is that this must happen around the world in order to drive growth into new markets.”