Fintech Rapyd seeks funding at $3.5B valuation, a steep drop from $9B

Rapyd Financial Network is looking to raise $300 million in a new funding round that would value the global payments platform at $3.5 billion, a considerable decrease from its approximately $9 billion valuation set in 2021, according to Bloomberg.

The London-based company offers a range of financial services like payments, mobile wallets, money transfers, card issuing, and fraud protection, which are accessible to third parties via an API.

Rapyd plans to use the funding to buy a payment processing startup. The 9-year-old company has been on…