Rapyd in Talks to Raise $300 Million at Reduced Valuation

Payments-as-a-Service platform Rapyd is reportedly in discussions to raise $of$3.5 billion, significantly lower than the $9 billion valuation it achieved in 2021, according to Bloomberg.

Rapyd’s platform allows businesses to accept and send payments globally without building their own infrastructure. Its Global Payments Network supports hundreds of local payment methods, including cards, bank transfers, e-wallets, and cash.

The company plans to use part of the funding to acquire a payment processing startup, Bloomberg reported, citing sources. Rapyd has a history of strategic acquisitions, including European firm PayU GPO in 2023, Icelandic payments company Valitor in 2021, and Hong Kong-based business incorporation platform Neat.