Rapyd, a startup into Fintech , its technology helps businesses embed financial services into their own apps, is raising money in a round that would double its valuation to more than $5 billion, just four months after unveiling its last fundraising, according to two people familiar with the deal.
We believe that every single company that is a consumer-facing brand will end up as a fintech company, because the main way to monetize your client base is with financial services,” Arik Shtilman, Rapyd’s co-founder and CEO said.
Existing investors including European venture firm Target Global are leading the funding, which aimed to raise about $250 million, according to an investor memo seen by The Information.
Financial technology start-ups have raised record levels of capital as investors have doubled their start-ups, benefiting from the acceleration of online commerce and other activities caused by the pandemic outage. Startups in other fields, Blockchain startup Dapper Labs And audio app club house. This year too, we raised multiple rounds of funding in a short period of time.
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