Rapyd reaches $15 billion valuation, becomes Israel’s highest valued unicorn

Israeli fintech company Rapyd has reached a valuation of $15 billion. Calcalist has learned that the company was valued at this figure in several secondary deals over recent months in which early investors sold shares. Rapyd’s investors include BlackRock, Fidelity, General Catalyst, Target Global and Spark Capital. These recent secondary deals make Rapyd Israel’s highest valued private tech company and highest valued fintech company.

Founded in 2015 as CashDash by Arkady Karpman, Arik Shtilman, and Omer Priel, Rapyd offers payment services enabling the transfer of electronic funds across borders through various means of payment, including bank transfers, digital wallets, and cash.

Rapyd raised $300 million at a $10 billion valuation in its Series E last August. The company has raised $960 million in total to date, $160 million of which in secondary deals. Rapyd completed a $400 million funding round at a valuation of $2.5 billion in January of 2021.

Rapyd announced last June that it was launching Rapyd Ventures, its new venture arm that will focus on investing in early and growth-stage businesses developing financial services innovation. Rapyd employs 600 people globally, including 330 in Israel. It plans to recruit hundreds of new employees in the near future.

The fintech sector has experienced an unprecedented boom in Israel over recent years. Tipalti raised $270 million at an $8.3 billion valuation last December, while Fireblocks, which provides solutions for the blockchain and crypto sector, raised $310 million in a Series D at an $8 billion valuation three months ago.

Credit: Source link