Fintech firm Rapyd raises $300mln in private funds

Planned to use the funds to make several more strategic acquisitions

  
Futuristic Technology connection. For illustrative purpose only.

Futuristic Technology connection. For illustrative purpose only.

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JERUSALEM- Financial tech service firm Rapyd said on Tuesday it raised $300 million in a late stage private funding round led by Target Global.

New investors including funds managed by Fidelity Management and Research Company, Altimeter Capital, Whale Rock Capital, BlackRock Funds and Dragoneer joined the round, along with existing investors General Catalyst, Latitude, Durable Capital Partners, Tal Capital, Avid Ventures, and Spark Capital.

The latest financing comes after Rapyd bought Valitor, a European payments and card issuing company, for $100 million last month.

Rapyd, with offices in Silicon Valley, London and Tel Aviv, said it planned to use the funds to make several more strategic acquisitions to support expansion in key markets and grow payment products.

(Reporting by Steven Scheer Editing by Ari Rabinovitch) ((steven.scheer@thomsonreuters.com; +972 2 632 2210; Reuters Messaging: steven.scheer.thomsonreuters.com@reuters.net; Twitter: @StevenMScheer))


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