Funding round
Rapyd Series C
Rapyd, which works in fintech payment infrastructure services in Tel Aviv, raised $100M in a Series C round announced on 1 Oct 2019, led by Oak HC/FT, at a $1.00B post-money valuation. 7 firms took part, 1 of them already investors. It is Rapyd's second venture round on record; the one before was a Series B in Feb 2019.
$100M
Amount raised
$1.00B
Post-money valuation
$900M pre-money
7
Investors
1 lead
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Rapyd at $1.00B after the new money. The $100M bought investors about 10% of the company. It came 8 months after Rapyd's Series B. It is 8.1% of the $1.24B Rapyd has raised in the venture rounds on record. Rapyd raised again 15 months later: a Series D round of $300M in Jan 2021, at $2.50B post-money.
Rapyd's funding rounds
Rapyd has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Oak HC/FT led the round with 6 other firms. Stripes had backed Rapyd before.
Lead investor
- Oak HC/FT backs 106 venture-backed companies new investor
Also in the round
- Tiger Global backs 391 venture-backed companies new investor
- Coatue backs 229 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies new investor
- Target Global new investor
- Stripes backs 101 venture-backed companies existing investor
- backs 80 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
18 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $88M, and this round was close to the median. The closest in time, other companies' Series C rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| BharatPe Payment Processing & Point of Sale | 24 Feb 2020 | $75M | $400M | Coatue and Ribbit |
| Razorpay Payment Processing & Point of Sale | 18 Jun 2019 | $75M | not disclosed | Ribbit and Sequoia Capital |
| Payment Processing & Point of Sale | 30 Mar 2020 | $45M | not disclosed | Greenspring Associates and Goodwater Capital |
| Airwallex Payment Processing & Point of Sale | 26 Mar 2019 | $100M | $1.00B | DST Global |
| Payment Processing & Point of Sale | 10 Jun 2020 | $24M | not disclosed | Elaia and Bpifrance’s Large Venture fund |
| Payment Processing & Point of Sale | 16 Jan 2019 | $100M | not disclosed | Warburg Pincus |
| Bolt Payment Processing & Point of Sale | 16 Jul 2020 | $50M | not disclosed | WestCap |
| Plaid Payment Processing & Point of Sale | 11 Dec 2018 | $250M | $2.65B | Kleiner Perkins |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Rapyd raise in its Series C round?
Rapyd raised $100M in its Series C round, announced in Oct 2019.
Who led Rapyd's Series C round?
Oak HC/FT led it, with Tiger Global, Coatue, General Catalyst, Target Global and Stripes and 1 more.
What was Rapyd's valuation at the Series C round?
$1.00B post-money ($900M pre-money).
How does it compare with other Series C rounds in Payment Processing & Point of Sale?
18 Series C rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $88M, and this round was close to the median.
Did Rapyd raise again after this round?
Yes: a Series D round in Jan 2021 of $300M at $2.50B post-money.