Fintech Rapyd seeks funding at $3.5B valuation, a steep drop from $9B

RAPED Financial Network is trying to raise $ 300 million in a new funding round that gives the global payment platform worth $ 3.5 billion, it decreases considerably from it Evaluated about $ 9 billion Set in 2021, According to BloombergThe

The London -based company is accessible to the third party through an API, such as payment, mobile wallet, transfer of money, issuing cards and fraud protection.

Rapid is planned to use funds to buy processing startups. The 9 -year -old company has a continuation of an acquisition, recently added four companies with Iceland -based Payment Startup Valitar for $ 100 million In 2022. It has also given $ 610 million for units on the Global Payment Platform Pay Pay for 610 million In 2023.

In 2023, Rapid’s chief executive officer and co-founder Arik Shotilman Tell TechCrunch That the agency was “in [the] The final phases to close a new finishing round of $ 700 million “” The company has not publicly reported the financing round, it makes it clear whether the fund was secured and if so on any evaluation.

That year, Rapid contestants, Payment Giant Stripes, were forced to collect capital for prices of $ 50 billion, Down from the peak $ 95 billion.

If Rapid completes this raising in low evaluation from the top, it will have a lot of companies. In addition to stripes, many startups have raised capital in lower evaluation than their previous financing, it is known as a Down roundThe

It was excessively overly evaluated because During the insanity of the VC fund Between 2020 and 2021. Flat or Down Rounds have reached a height of a decade, according to the pitchbook data, produces 27% of all contracts in the first nine months of 2024.

Supporters of the company include coat, oak HC/FT, target global and Tiger Global Management. Rapid did not immediately respond to any request for the comment.