API driven FinTech Rapyd has reached $1.2bn valuation following $20mn funding.
Durable Capital Partners LP invested $20mn in the company.
To date Rapyd has raised $180mn.
Rapyd uses a single API to help businesses integrate FinTech and payment capabilities.
What does this mean?
The company says that the investment is “further validation” of its approach and scalability. As a cloud-based business Rapyd believes it will be able to scale up quickly and easily.