VCs invest $100m in Rapyd

US-based investor Oak HC/FT led the round, with participation from Tiger Global Management, Coatue, General Catalyst, Target Global, Stripe and Entrée Capital.

The funding round values the company at almost $1bn, according to a report by TechCrunch.

The fresh capital will be used to expand the company's platform, make acquisitions and expand its headcount.

Previous funding
Target Global, SBI Group and Ignia joined forces to invest $10m in the company in June 2018.

Payments company Stripe and VC General Catalyst led a $40m round in February 2019, with participation from Target Global and Ignia.

Company
Rapyd develops software that allows customers to use its API to enable retail payments, funds collection, fund disbursements, compliance, foreign exchange, card issuing and integration. Founded in 2016, the company is based in London and employs 131 people, according to LinkedIn.

People
Oak HC/FT – Tricia Kemp (managing partner).
Target Global Management – Scott Shleifer (partner).
Rapyd – Arik Shtilman (CEO).

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