Fintech Rapyd is seeking funding at a $3.5 billion valuation.

Rapyd Financial Network is looking to raise $300 million in a new funding round valued the global payment platform at $3.5 billion. Approximately $9 billion valuation Set for 2021, According to Bloomberg.

The London-based company offers a variety of financial services, including payments, mobile wallets, remittances, card issuance and fraud protection that third parties can access via APIs.

Rapyd plans to use the funds to purchase payment processing launches. The 9-year-old has continued its acquisition winning streak, and recently added four companies, including Iceland-based payment startups. 100 million dollar Valitor 2022. It also paid $610 million for a unit on the global payment platform. Payu costs $610 million 2023.

2023 Rapyd CEO and co-founder Arik Shtilman He told TechCrunch The company was in the “final stage of closing its new $700 million funding round.” The company did not publicly report the funding round and unclear what assessment, if so, of which funds were secured.

That year, Rapyd’s competitor, Payments Giant Stripe, was forced to raise capital at a $50 billion valuation. It’s down from that peak Prices at $95 billion.

If Rapyd completes this salary increase with a low rating from the peak, it will have a lot of companies. In addition to Stripe, many startups raise capital at a lower valuation than previous funding. Down Round.

This is because the rating was excessively high VC funding Among 2020 and 2021. Flat or Down Rounds were won in 10 years and accounted for 27% of all transactions in the first nine months of 2024.

The company’s backers include Coatue, Oak HC/Ft, Target Global, and Tiger Global Management. Rapyd did not immediately respond to requests for comment.