The Israeli fintech company Rapyd announces the completion of a $ 300 million E-fundraising round

The Israeli fintech company Rapyd announces the completion of a $ 300 million E-fundraising round led by Target Global.
New investors are joining this round, including: Fidelity Management and Research company Altimeter Capital, Whale Rock Capital, BlackRock Funds and Dragoneer.
This is alongside existing investors: General Catalyst, Latitude, Durable Capital Partners, Tal Capital, Avid Ventures, and Spark Capital.
The current recruitment will be used to make a number of strategic acquisitions, expand into key markets, improve existing products and develop more products, and even expand operations among other industries. The round of funding comes shortly after Rapid acquired Valitor, a company that provides payment solutions to businesses across Europe for $ 100 million, and the launch of the company's investment arm, Rapyd Ventures.
Rapid is developing an international payment platform for businesses and consumers, which enables bank transfers, transfers to digital wallets, cash payments and more. The company operates the largest online payment network of its kind in the world, which supports 65 types of currencies in more than 170 countries.
The company has 550 employees worldwide, 220 of them in Israel, and it will recruit hundreds more employees to its offices in Israel and around the world. The company was founded in 2015 by Arik Stillman, Arkady Karpman and Omar Priel. Stillman founded ITNAVIGATOR and was sold to AVAYA in 2013.
At the end of 2015, the idea arose to build a new payment network, which would form a new infrastructure for conducting international transactions and meet the needs of e-commerce organizations and travel sharing, which depend on older technologies of traditional credit companies.