This latest round is being led by Oak HC/FT with participation from Tiger Global, Coatue, General Catalyst, Target Global, Stripe and Entrée Capital. GC and Stripe led its previous round.
This brings the total raised by Rapyd to $160 million. We understand that the valuation in this latest round comes at a significant spike and is now at close to $1 billion. “Rapid” is indeed the operative word when it comes to Rapyd: The company is not only riding a wave of strong growth, but this is the second funding round it has raised this year, after raising $40 million in February. Arik Shtilman, co-founder and CEO of Rapyd, says the total payments volume on the platform (that is, how much Rapyd is moving) has grown more than five times this year, and that next year it’s forecasting that its revenue run rate will triple compared to 2019.