Rapyd could be nearing “unicorn territory” after bagging $100m in Series C investment round

Payments company Rapyd has secured a $100m Series C funding round led by Oak HC/FT, the healthcare and FinTech investor.

The new capital injection was also supported by venture capital firms General Catalyst and Tiger Global. Both recently participated in Stripe’s, the payments processing unicorn, $250m funding round, which gave it a valuation of $35bn.

The unicorn also led Rapyd’s $40m funding round in February this year.

With the Series C investment, an investor spokesperson told CoinDesk that Rapyd was nearing “unicorn territory”.

Arik Shtilman, Rapyd co-founder and CEO, said, “As more than half of all transactions worldwide are facilitated via bank transfers and cash, merchants find it increasingly difficult to digitally enable local payment methods and process cross-border sales that are required for international expansion.”

Global investment manager company Coatue and VC firm Entrée Capital also participated in Rapyd’s Series C Round.

Rapyd recently added TNG FinTech Group, the Hong Kong-based e-wallet and e-money platform to its network.

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