Founder(s): Arik Shtilman
Description: Rapyd helps businesses create great local commerce experiences anywhere.
Rapyd first began as a mobile payments company. Rapyd helps businesses create great local commerce experiences anywhere, building the technology that removes the back-end complexities of cross-border commerce while providing local payments expertise.
Rapyd is now a single technology platform. Global ecommerce companies, gig-economy players banks, technology firms, marketplaces, and financial institutions use the fintech-as-a-service platforms—Collect, Disburse, Wallet, and Issuing—to seamlessly embed localised fintech and payments capabilities into their applications in a simple way.
Rapyd has built the first truly global payments solution for anyone who needs to accept or pay money to their buyers or sellers, move money around the world, or create new fintech services for their users.
One of the key challenges Rapyd has faced is the issue of fragmentation. Around the world, consumers and businesses like to pay and be paid in different ways, including cash, credit cards, bank transfers, ewallets, and local debit schemes. Rapyd gives businesses the ability to offer a choice of any local payment method.
This January, Rapyd announced that it raised $400 million as part of its growth goals, and plans to recruit more than 200 employees within a year. Additionally, the fintech has started a training program for computer science graduates to train programmers with the required skills.