Rapyd
Overview
Rapyd is a global fintech-as-a-service platform that enables businesses to access a comprehensive suite of payment services. Founded in 2016 by Arik Shtilman, Arkady Karpman, and Omer Priel, the company is headquartered in London, United Kingdom. Rapyd has raised a total of $778 million in funding, and its solutions facilitate local and cross-border payments, fintech integration, and financial operations for businesses worldwide. The platform is designed to simplify complex payment landscapes, allowing companies to operate more efficiently across over 100 countries.
Recent Developments
- February 2025: Rapyd is seeking to raise $300 million in a new funding round that values the company at approximately $3.5 billion, a significant drop from its previous valuation of $9 billion. This move is part of their plans to acquire a payment processing startup.
- October 2024: Rapyd achieved its first profitable quarter following the acquisition of PayU’s Global Payment Organization, which was valued at $610 million. This acquisition significantly expands their service capabilities in 100+ countries with roughly 1,200 payment methods.
- September 2024: Rapyd expanded its Global Partner Programme to support its high-opportunity industries such as eCommerce and online gaming with tailored payment solutions. This initiative aims to boost revenue growth and provide custom solutions for complex payment needs.
- April 2024: Rapyd was recognized again as a top cross-border payment provider by FXC Intelligence, highlighting its consistent performance and innovation in the payments industry.
- March 2024: The company won the MPE Award for the best cross-border merchant solution, affirming its leading edge in enabling global commerce.
- July 2023: Rapyd completed the acquisition of PayU's GPO division, a strategic move that aligns with its goal to become a dominant player in the global fintech landscape.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2016 |
| Headquarters | London, United Kingdom |
| Founders | Arik Shtilman, Arkady Karpman, Omer Priel |
| Revenue | $17 million in 2023 |
| Employees | ~850 |
| Key Investors | Stripe, General Catalyst, Coatue Management |
| Industry | Fintech |
Early History
Rapyd was conceived to address the intricate challenges of cross-border payments and financial operations. In 2015, the founders identified a gap in seamless global payment infrastructures. Initially launched as an e-wallet, Rapyd evolved as its founders realized the potential for a broader fintech-as-a-service platform. With their significant experience in technology and finance, they built an ecosystem that integrated a multitude of regional payment methods, simplifying transactions for businesses aiming to expand globally. The company's rapid acquisitions and strategic partnerships helped establish its foundational presence in the fintech landscape by 2017.
Company Profile and Achievements
Rapyd offers a robust, API-based platform catering to various financial operations such as fund collections, card acquisitions, local disbursements, and treasury management. This fintech-as-a-service model allows businesses to integrate complex payment solutions without the need to develop elaborate infrastructures independently.
- Notable Achievements:
- Recognized as a leading cross-border payments provider multiple times since its founding.
- Has fostered partnerships with giants like Mastercard and PayU, expanding their capabilities across multiple industries and geographies.
- Launch of Rapyd Ventures to fuel innovation in fintech by investing in promising startups and emerging financial technologies.
Rapyd's journey reflects its commitment to innovation in the financial services landscape, expanding through strategic mergers and acquisitions, notably acquiring Valitor and PayU divisions.
Current Operations and Market Position
Currently, Rapyd operates a global fintech platform enabling cross-border financial transactions with local finesse. It supports extensive use cases, including e-commerce, online marketplaces, and digital content distribution. Rapyd's significant market position comes from its ability to serve businesses small and large with diverse payment solutions. Their competitive edge lies in offering a comprehensive platform that simplifies international commerce by integrating various local payment solutions within one system. Recent initiatives like expanding the partner program and pivoting towards profitability further consolidate their market standing.
Conclusion
Rapyd's innovative solutions have positioned it as a formidable player in global fintech, adept at transforming payment landscapes. Despite current funding challenges, its strategic acquisitions and focus on profitable operations have laid a strong foundation for continued growth and competitive advantage. Moving forward, Rapyd is poised to strengthen its platform's capabilities further and explore new frontiers in the payment industry, enhancing its role as a global commerce enabler.