Rapyd Financial Network is seeking $300 million in a new funding round, valuing the company at $3.5 billion, down from $9 billion in 2021. The London-based payments platform offers diverse financial services through APIs and plans to use the funding for acquiring a payment processing startup. The trend of down rounds is notable in the current market, where many companies, including competitors like Stripe, have faced lower valuations amid a shift from a previously inflated funding landscape.
Rapyd Financial Network is looking to raise $300 million at a valuation of $3.5 billion, significantly lower than its peak valuation of $9 billion in 2021.
The company plans to use the new funding to acquire a payment processing startup, continuing its strategy of expansion through acquisitions.
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