The funding round was led by global technology-focused investment company Coatue and also included new investors Spark Capital, Avid Ventures, FJ Labs and Latitude as well as current investors General Catalyst, Oak FT, Tiger Global, Target Global, Durable Capital, Tal Capital, and Entrée Capital.
Rapyd was founded in Israel and based in London.
Its platform embeds financial technology services into any application and simplifies the complexity of offering local payment methods through a software intermediary, it said.
The new financing will partly be used to double Rapyd's engineering and product teams and it said it would focus on core markets that serve business-to-consumer and business-to-business eCommerce payments, marketplace and financial services businesses.
Rapyd also that following its acquisition and integration of European card acquirer Korta last year it was also exploring additional strategic acquisitions in the Americas, Asia-Pacific and Europe, Middle East and Africa.
(Reporting by Steven Scheer)
