INSUBCONTINENT EXCLUSIVE:
One of the biggest trends in the world of financial technology has been an ongoing push towards consolidation, where larger fish are
snapping up smaller fish (including a proliferation of interesting startups) to get improved economies of scale in a business model where
every transaction brings incremental returns
But today, a startup that has built the concept of consolidation into its basic DNA has raised another round of funding to continue doubling
spanning payments, checkout, funds collection, fund disbursements, compliance as a service, foreign exchange, card issuing and soon
investment firm Durable Capital Partners.Notably, it was only in October that Rapyd announced a $100 million raise
CEO and co-founder and Arik Shtilman said that Rapyd has now raised $180 million in total, with previous investors in the startup including
(Stripe, itself a fast-growing fintech upstart, remains only a financial investor in the company, Shtilman confirmed.)Durable is the firm
founded by Henry Ellenbogen, formerly a star investor at T
Both deals are in progress now and are likely to close in February / March
One is of a card issuing platform (a la Marqeta), and the other is of a company based in Asia Pacific that is a significant player in
Latin America, have shaped up to be important geographies for the company
In the last three months, Rapyd has signed on 20 additional large-scale companies, Shtilman said, with several of them based out of, or
The basic pitch is that financial services are complex, and providing one like payments often means having to offer others
Building these from scratch if this is not your core competency can be time-consuming and costly, and so that is where a company like Rapyd
steps in with its API.This is what attracted its newest investor, too
the next generation technology stack
logistics as part of its range of tools
logistics service and given access to a single merchant as stage one of its closed beta
He also confirmed the Durable has been a help here, by making an introduction to Convoy as part of that wider strategy.
