Mobile-first financial network Rapyd has raised $100mn, bringing its valuation up to $1bn.
The funding was led by Oak HC/FT, and also included Stripe and General Catalyst, both of which led its previous round.
The new investment will be used to expand the platform as well as make acquisitions and grow the team.
Rapyd’s API enables checkout, funds collection and disbursement, compliance as a service and more.
What does this mean?
This is Rapyd’s second funding round this year – the FinTech raised $40mn in February.