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Fintech Rapyd seeks funding at $3.5B valuation, a steep drop from $9B
Rapyd Financial Network is reportedly looking to raise $300 million in a new funding at a steep valuation cut from its 2021 high.
The London-based company offers a range of financial services like payments, mobile wallets, money transfers, card issuing, and fraud protection, which are accessible to third parties via an API. In addition to Stripe, many startups have raised capital at lower valuations than their previous financings, known as a down round. Flat or down rounds hit a decade high, making up 27% of all deals in the first nine months of 2024, according to PitchBook data.
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