Rapyd raises $300 million from Coatue, Tiger Global

Rapyd, a global fintech solutions company, has raised USD 300 million (about Rs 2,194.4 crore) in funding, led by Coatue.

The series D financing round saw participation from several new investors including Spark Capital, Avid Ventures, FJ Labs and Latitude, a statement said.

This also included further investment from current investors General Catalyst, Oak FT, Tiger Global, Target Global, Durable Capital, Tal Capital, and Entrée Capital, it added.

The new financing will be used to double the engineering and product teams, as well as expand the 'self-service' element of Rapyd's platform, it said.

"The firm will focus on core markets that serve B2C and B2B e-commerce payments, and financial services businesses. Rapyd is also exploring additional strategic acquisitions in the Americas, Asia-Pacific and Europe, Middle East and Africa," it said.