Rapyd Secures $40 Million in Series B Funding

Rapyd, a global fintech-as-a-service platform designed to enable businesses and consumers to facilitate any payment method or cash for local and cross-border e-commerce, closed a $40 million Series B financing round led by General Catalyst and Stripe, with participation from Target Global and IGNIA.

As a platform that supports bank transfers, e-wallets, and cash for local acceptance and payouts, Rapyd addresses transactions worldwide that merchants find difficult to process.

The company plans to use the funds to expand its technology platform.