INSUBCONTINENT EXCLUSIVE:
payments, but also the many other related (and necessary) services that go along with them, by way of a single API, has raised a big round
team.This brings the total raised by Rapyd to $160 million
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
marketplaces and digital and brick-and-mortar merchants among its customers, to give you an idea of the kinds of companies and businesses
that use its white-label service.This latest round is being led by Oak HC/FT with participation from Tiger Global, Coatue, General
GC and Stripe led its previous round
Stripe is currently one of the biggest players in the world of venture-backed fintech startups: in September it announced a $250 million
round that values it at over $35 billion
market: Each region has its own preferred payment methods (not every consumer globally uses credit or debit cards, and even if they do,
accepting them all involves payment deals at the local level), and increasingly there is a lot more regulatory compliance that needs to be
followed when making or taking payments.All of that is not a core competency of most businesses, and that has led to the emergence of
fintech companies that knit all that together behind the scenes
countries; make disbursements in more than 170 countries; and make multi-currency settlement in 65 currencies, numbers that Shtilman said
are continuing to grow as it continues making more interconnection deals with local partners.Rapyd is not the only company targeting that
opportunity: Adyen, PayPal, WorldPay and increasingly Stripe are among the other big names also providing services in this area
compare his company to AWS when it comes to continually expanding services and features
services), that presents an interesting opportunity for Rapyd to move into another big area of the ecosystem: logistics
Indeed, Shtilman noted that the company is currently working on its first partnerships in that area, which will likely first launch in Asia
Pacific.Whichever area Rapyd tackles after that, the main idea will be to continue to apply digitised processes to those that have
traditionally been done manually, which not only helps to speed up transactions, but makes them less prone to errors and more traceable
partner at Oak HC/FT, in a statement
