Fintech Rapyd is looking for funding at $ 3,5B rating, steep drop of $ 9b

Rapyd Financial Network strives to raise $ 300 million in a new funding round that would estimate the $ 3.5 billion global payments platform, a significant discount from their approximately $ 9 billion estimated placed in 2021, According to BloombergS

The London -based company offers a number of financial services such as payments, mobile portfolios, cash transfers, card issuance and fraud protection that are available to third countries through API.

Rapyd plans to use funding to buy payments to start processing. The nine -year -old company has recently added four companies, including startup payments based on Iceland Tray Million in 2022. He also paid $ 610 million for units of the global payments platform Payu for $ 610 million In 2023

In 2023, the CEO of Rapyd and co -founder Arik Stilman told TechCrunch that the company is “in the (the best stages of closing a new $ 700 million financial circle.”

In the same year, Rapyd’s competitor, Giant Payments Giant, was forced to raise capital in a $ 50 billion estimate, down from the top Price of $ 95 billion.

If Rapyd completes this increase in a lower rating than its peak, it will have many company. In addition to Strip downS

This is because the ratings were too high During the financing of VC From 2020 and 2021, the flat or down circles reached a height of a decade, which made up 27% of all transactions in the first nine months of 2024, according to Pitchbook.

The company’s supporters include Coatue, Oak HC/FT, Target Global and Tiger Global Management. Rapyd did not immediately answer a request for comment.