Rapyd, a digital payment infrastructure provider, has raised USD 300 million in a Series E funding round led by Target Global, with participation from several new and existing investors, including Fidelity Management and Research, BlackRock Funds, and General Catalyst, among others. 

The round values the company at USD 8.75 billion, and brings its total funds raised to over USD 770 million. The funding comes just seven months after Rapyd raised USD 300 million in Series D funding, in January 2021, at a USD 2.5 billion valuation. 

The funds will be invested in product development, expanding its international presence, and strategic acquisitions. Last month, Rapyd announced that it had signed a definitive agreement to buy an Icelandic omnichannel payment services provider, Valitor, for USD 100 million. 

Rapyd expects the total payment value handled by the platform to exceed USD 20 billion in 2021, incidentally around 4x the value handled in 2020. The company also noted that its customer base currently comprises around 12,000 small and medium-sized businesses and about 650 large enterprises.  

Israeli company, Rapyd, provides FinTech infrastructure for businesses to embed online payment mechanisms using application programming interfaces (APIs). The platform allows companies to enable local and international transactions by combining over 900 payment methods in more than 100 countries. Rapyd’s customers primarily include e-commerce platforms, labor and goods marketplaces, lenders, and financial services providers.