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Fintech firm Rapyd’s valuation drops to $3.5b
Israeli fintech company Rapyd is reportedly seeking to raise US$300 million at a valuation of US$3.5 billion.
This represents a significant decrease from the company’s previous valuation of US$10 billion in 2021.
Part of the new funding is expected to go towards acquiring a startup in the payments sector.
In August 2023, Rapyd acquired the PayU Global Payment Organisation from Netherlands-based Prosus for US$610 million.
Recent Rapyd developments
| Timeline |
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15-May-2024 ⚖️ Ex-staff sues fintech unicorn Rapyd, alleges $1.1m in unpaid commissions
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01-Aug-2023 💰 In 50 Words: Prosus to sell off some PayU units to Rapyd for $610m
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31-Aug-2022 💰 SG cross-border payments firm raises $3.3m in seed money
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31-Jan-2022 💳 Payments network Rapyd completes trading platform acquisition
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03-Jun-2021 💰 Payments network Rapyd launches VC arm to invest in growth-stage businesses
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