Rapyd in Talks to Slash Valuation to $3.5 Billion in New Funding (1)

Rapyd Financial Network is in talks to raise $300 million from investors at a $3.5 billion valuation, according to people familiar with the matter, a dramatic decline from its value of around $9 billion in 2021.

The company, which offers a digital platform for cross-border financial transactions and competes with Stripe Inc., intends to use the funding in part to acquire a payment processing startup, said one of the people, who asked not to be identified discussing private information.

A Rapyd representative declined to comment.

Rapyd, known for its aggressive acquisition strategy, has previously expanded its footprint by buying four companies, including units ...