Payments-as-a-Service platform Rapyd is seeking to raise $300 million at a valuation of $3.5 billion, significantly lower than the $9 billion it achieved during a funding round in 2021, according to Bloomberg.
The company is in discussions with investors regarding this funding, which will allow businesses to facilitate and receive payments without the need to develop their own infrastructure. Rapyd’s Global Payments Network supports hundreds of local payment methods, including cards, bank transfers, e-wallets, and cash.
Part of the new funding is expected to be allocated towards the acquisition of a payment processing startup, as reported by Bloomberg, citing insider sources.
Rapyd has previously made several acquisitions, including the purchase of European firm PayU GPO in 2023, Icelandic payments company Valitor in 2021, and the Hong Kong-based business incorporation platform Neat.