Rapyd launches venture arm for fintech startups

UK payments-as-a-service fintech Rapyd will invest in early-stage startups

The London-based fintech, Rapyd, has launched a new venture arem for early-stage fintech startups.

The new venture will work mainly with startups that have completed their Seed rounds, through to those on Series B funding. 

According to reports, Rapyd will provide access to its fintech-as-a-service capabilities and network of partners, providing companies with support and opportunities to increase the speed of their growth strategies.  

The investment arm has already committed to taking part in a funding drive for Gotrade, a fractional stock trading platform that enables users in over 150 countries to invest in US shares. Rapyd will join Gotrade’s existing investors LocalGlobe, Social Leverage and Y Combinator in the upcoming seed round.

Rapyd and fintech innovation

The decision to launch the investment follows on from Rapyd’s US$300m Series D financing round led by Coatue in January. The company has also experienced a sharp growth trajectory over the past 12 months, as a result of COVID-19 fulling the cross-border digital payments sector. 

Rapyd's strategy is based on creating fintech applications that scale globally to allow businesses to invest in expansion, rather than building infrastructure. It also believes developers need to easily integrate functionality to collect and disburse funds in any local currency, issue cards, extend ewallet functionality, manage KYC and compliance processes, all without having to worry about local regulatory issues.

This has led Rapyd to launch “Fintech-as-a-Service”, to providing a full stack of integrated payments, commerce and financial services capabilities that can be embedded into any application.

Speaking about the new investment and innovation arm, Rapyd’s CEO and co-founder, Arik Shtilman explained, “The innovations that we are seeing in the payments industry are not evenly distributed.”

“We believe we have a mission and responsibility to support companies building both the infrastructure for next generation financial services, as well as innovators building on top of these new capabilities around the world, and to accelerate their development.”

Image credit: PR Newswire featuring Rapyd co-founders

 

Share

Featured Articles

Sustainability LIVE Net Zero: Sustainable Finance Insights

Financial services and banking executives have the opportunity to hear from the world’s biggest sustainability leaders discussing the future of Net Zero

EPAM: 96% of Consumers Happy With AI in Banking

EPAM Continuum has conducted its 2024 Consumer Banking Report, suggesting that 96% of consumers are happy with banks adopting AI

Bitcoin Reclaims US$1tn Valuation; the Bull Market is Here

Bitcoin, the world’s largest cryptocurrency, has hit the US$1tn valuation mark again after the cost of one Bitcoin jumped 22% to US$52,005

COMING SOON: Top 100 Women in FinTech 2024

Digital Payments

FinTech LIVE Dubai: Linoy Kidd, CIO at HSBC

Financial Services (FinServ)

NASDAQ: Banks Need Fintech Trust to Combat US$3tn in Fraud

Fraud & ID Verification