Rapyd becomes Israel’s highest valued unicorn
By MYBRANDBOOK
Israeli fintech company Rapyd has reached a valuation of $15 billion, making Rapyd Israel’s highest valued private tech company and highest valued fintech company. The company has raised $960 million in total to date, $160 million of which in secondary deals.
Rapyd offers payment services enabling the transfer of electronic funds across borders through various means of payment, including bank transfers, digital wallets, and cash. It plans to recruit hundreds of new employees in the near future.
The valuation is a result of an acquisition strategy that has been mainly applied to companies in Europe and Asia. Rapyd’s investors include BlackRock, Fidelity, General Catalyst, Target Global and Spark Capital. The company raised $300 million at a $10 billion valuation in its Series E last year in August.
Last year, Rapyd announced that it was launching Rapyd Ventures, its new venture arm that will focus on investing in early and growth-stage businesses developing financial services innovation. Rapyd now employs 600 people worldwide, including 330 in Israel.
The company acquired Icelandic payments company Valitor which supplies payments solutions for businesses across Europe, providing both in-store and online payments acceptance solutions as well as card issuing to SMB merchants in Iceland, the U.K. Ireland, and across Europe, at $100 million.
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