Funding round
Rapyd Series D
Rapyd, which works in fintech payment infrastructure services in Tel Aviv, raised $300M in a Series D round announced on 13 Jan 2021, led by Coatue, at a $2.50B post-money valuation. 12 firms took part, 7 of them already investors. It is Rapyd's third venture round on record; the one before was a Series C in Oct 2019.
$300M
Amount raised
$2.50B
Post-money valuation
$2.20B pre-money
12
Investors
1 lead
2.5x
Step-up from the Series C
$1.00B in Oct 2019
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Rapyd at $2.50B after the new money, 2.5 times the $1.00B of its Series C (Oct 2019). The $300M bought investors about 12% of the company. It came 15 months after Rapyd's Series C. It is 24% of the $1.24B Rapyd has raised in the venture rounds on record. Rapyd raised again 7 months later: a Series E round of $300M in Aug 2021, at $8.75B post-money.
Rapyd's funding rounds
Rapyd has 5 venture rounds on record. This one is highlighted.
Investors
Who put money in
Coatue led the round with 11 other firms. General Catalyst, Oak HC/FT, Tiger Global and Target Global and 3 more had backed Rapyd before.
Lead investor
- Coatue backs 229 venture-backed companies new investor
Also in the round
- Spark Capital backs 234 venture-backed companies new investor
- backs 18 venture-backed companies new investor
- FJ Labs backs 316 venture-backed companies new investor
- Phoenix Court backs 45 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies existing investor
- Oak HC/FT backs 106 venture-backed companies existing investor
- Tiger Global backs 391 venture-backed companies existing investor
- Target Global existing investor
- Durable Capital Partners backs 39 venture-backed companies existing investor
- Tal Capital existing investor
- backs 80 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
20 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $132M, and this round was 2.3 times the median. The closest in time, other companies' Series D rounds in Payment Processing & Point of Sale:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Payment Processing & Point of Sale | 15 Jan 2021 | $100M | not disclosed | Warburg Pincus and Goodwater Capital |
| BharatPe Payment Processing & Point of Sale | 12 Feb 2021 | $108M | $900M | Coatue |
| Payment Processing & Point of Sale | 31 Mar 2021 | $120M | not disclosed | JS Capital Management LLC and Soros Capital Management LLC |
| Airwallex Payment Processing & Point of Sale | 23 Mar 2021 | $100M | $2.60B | Greenoaks |
| Payment Processing & Point of Sale | 1 Apr 2021 | $425M | $7.40B | Tiger Global |
| Plaid Payment Processing & Point of Sale | 7 Apr 2021 | $425M | $13.40B | Altimeter and Silver Lake |
| Greenlight Payment Processing & Point of Sale | 27 Apr 2021 | $260M | $2.30B | Andreessen Horowitz |
| CRED Payment Processing & Point of Sale | 6 Apr 2021 | $215M | $2.20B | Alpha Wave Global and Coatue |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Rapyd raise in its Series D round?
Rapyd raised $300M in its Series D round, announced in Jan 2021.
Who led Rapyd's Series D round?
Coatue led it, with Spark Capital, Avid Ventures, FJ Labs, Phoenix Court and General Catalyst and 6 more.
What was Rapyd's valuation at the Series D round?
$2.50B post-money ($2.20B pre-money).
How does it compare with other Series D rounds in Payment Processing & Point of Sale?
20 Series D rounds in Payment Processing & Point of Sale within a year either side disclosed an amount; the median was $132M, and this round was 2.3 times the median.
Did Rapyd raise again after this round?
Yes: a Series E round in Aug 2021 of $300M at $8.75B post-money.