03 December 2019:

Fintech-as-a-service provider, Rapyd, today announced that Durable Capital Partners LP, has made its first investment in Rapyd.

With this investment, Rapyd has raised approximately $180 million till date, including the company’s initial series A round, previously announced Series B round of $40 million led by General Catalyst and Stripe, and Series C round of $100 million which was led by Oak HC/FT and Tiger Global.

Arik Shtilman, CEO of Rapyd, said, “We are thrilled that Durable Capital Partners LP under the leadership of Henry Ellenbogen is making its first investment in Rapyd. This is further validation that our market approach has all the elements of success needed to scale a global technology company.”

Henry Ellenbogen, founder, Durable Capital Partners LP, said, “Durable Capital Partners LP has a vision to identify and invest in promising early stage growth companies and invest in teams that have bold ideas but can also execute at a world-class level and build much larger companies.”

Henry Ellenbogen, added, “I believe the Fintech-as-a-Service category has tremendous potential as companies seek to embed financial services as an integral part of the next generation technology stack. I believe Rapyd is very well positioned to drive this trend and I believe Arik’s track record in scaling cloud-based businesses will deliver success in this sector.”

Rapyd’s cloud-based technology platform helps businesses quickly integrate Fintech and payment capabilities into commerce application.

(Image – Rapyd)

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