Rapyd launches venture arm to invest in early-stage fintech startups

Rapyd launches venture arm to invest in early-stage fintech startups

News
June 3, 2021 by J.D. Smith
9
Payments-as-a-service platform Rapyd has launched a venture arm to invest in early-stage fintech startups. The firm says the new unit will largely work with startups after their Seed round and through Series B funding. In addition to capital, Rapyd Ventures will provide access to its fintech-as-a-service capabilities and network of partners, offering startups strategic advice
aws2520september2520-2520aws

Payments-as-a-service platform Rapyd has launched a venture arm to invest in early-stage fintech startups.

The firm says the new unit will largely work with startups after their Seed round and through Series B funding. In addition to capital, Rapyd Ventures will provide access to its fintech-as-a-service capabilities and network of partners, offering startups strategic advice and giving them opportunities to scale-up faster.

Arik Shtilman, CEO and co-founder of Rapyd, comments: “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.”

The first investment from Rapyd Ventures is Gotrade, a fractional stock trading platform that enables users in over 150 countries to invest in US shares. Rapyd will be joining existing investors LocalGlobe, Social Leverage and Y Combinator to support Gotrade’s upcoming seed round.

Buoyed by the pandemic-fuelled growth in cross-border digital payments, Rapyd in January bagged $300 million in a Series D financing round led by Coatue.