Rapyd in talks to raise $300m at cut-price valuation – report

Israeli digital payments company Rabia He is holding 300 million dollars to raise the company with a value of $ 3.5 billion, according to Bloomberg reports, according to the people familiar with the matter. This is a 60 % reduction in the $ 9 billion rating he received at the height of the technical boom in the summer of 2021.

Rabia has become amazing success in a high-tech bubble in 2020-2022, where she received great concerts for employees with budgets of millions of dollars, and rented an intense intensive space in the Azrieli towers in Tel Aviv, while CEO Eric Stellman regularly issued optimistic statements about the company about the company about The company is about the company. growth.

The Israeli company has become a giant for international payments at the beginning of the contract, as it represents difficult competitors such as Stripe and PayPal, partly by providing small, medium and large works outside the United States. Some of them are specialized areas such as Southeast Asia and the Middle East.

In addition to the large offices in Tel Aviv and London, Rapyd opened a large office in Dubai in 2022, when he rented more than 100 employees. In Tel Aviv, Rapyd 27500 square meters of office spaces of the Azrieli group rented for a period of five years in Triangle Tower and Sport Tower, which is under construction, to become a total of 250 million New.

Since the technology crisis began in 2022 following the rise in interest rates, RAPYD has held several rounds of workers’ demobilization, threatening dozens of employees in November 2022, due to simplification after the acquisition of the Icelandor payment company. In August 2023, the company launched 20 % of the workforce worldwide, including in Israel and in June 2024, 30 additional employees were demobilized out of 800 employees. Currently, according to LinkedIn, Rapyd has approximately 630 employees.

During the three years of the technology crisis, the value of many devices, especially from high -tech companies, has suffered from the largest decrease in the value of the technical sectors. Other Fintech companies have been forced to absorb significant declines in value each time they seek to collect a new financial tour. Stripe was forced to reduce its evaluation from $ 74 billion during the mutation years to about $ 50 billion in the past year. The Swedish company Klaarna “Buy now, Pay Learch”, evaluated its unexpected evaluation from $ 45 billion to $ 6.7 billion in 2022. Since these private companies, their evaluation is still fixed as long as it does not raise new capital, but now – According to reports – according to reports – according to reports – according to reports – RAPYD is concerned with obtaining a new company and is forced to undergo the update for the first time in three and a half years.

It was founded nine years ago, among the Rapyd Target Global investors, a European investment fund managed by the Israelis, which led the latest financing round at Fintech with a rating of $ 9 billion. Among the other investors, according to Pitchbook, General Catalyst, Coature, Softbank, Tal Ventures and Date Capital Partners.

Rabia refused to comment when calling her “Globes”.

It was published by Globes, Israel Business News – En.globes.co.il – on February 9, 2025.

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