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Arik Shtilman Interviewed by TechCrunch

Rapyd Interviewed by TechCrunch
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  • Arik Shtilman Interviewed by TechCrunch

Arik spoke with TechCrunch's Ingrid Luden about our recent $300 million funding round, our $2.5 billion valuation and what the future holds for Rapyd and the fintech industry.

A wave of organizations — propelled by global COVID-19 pandemic circumstances — are moving their commercial and financial interactions online, and today one of the big players helping to enable that shift is announcing a significant round of growth funding to expand the tools and services that it provides to them.

Rapyd, which provides an API-based “fintech-as-a-service” platform covering payments, banking services, fraud protection and more, has raised $300 million, funding that CEO and co-founder Arik Shtilman said in an interview will be used to expand its team, build out more technology (next up: expanded fraud ID services and a wider marketplace) and make selected acquisitions.

Rapyd’s customer base now numbers about 5,000 businesses, which includes marketplaces (labor marketplaces and marketplaces for goods), e-commerce businesses, other kinds of lenders and any business that might want to incorporate transactions or new financial services into their wider offerings. Shtilman said that at the moment, Rapyd is seeing its strongest growth yet, onboarding about 500 new customers each week.

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