Israel at war: Eric Shtilman, CEO of Rapyd, in Chabad war room with advocate Mordechai Tzivin
Israeli fintech giant Rapyd and a unicorn, once soaring at a $10 billion valuation, is now in high-stakes negotiations to raise $300 million—at a drastically reduced valuation of $3.5 billion, a staggering 65% drop from its 2021 peak. According to a Bloomberg report, this sharp decline underscores the volatile landscape of fintech and the shifting tides of investor confidence.
In March 2022, Rapyd became Israel’s (and possibly the world’s) biggest unicorn in history. A unicorn is any startup worth more than $1 billion.
During the tech boom of 2020-2022, Rapyd experienced a meteoric rise. The company became known for its lavish employee parties, with budgets reaching millions of dollars. They also expanded their office space significantly, leasing a large area in Tel Aviv’s prestigious Azrieli Towers. Throughout this period, CEO Arik Shtilman consistently made optimistic pronouncements regarding the company’s continued growth.
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Founded in 2016, Rapyd boats that it does for fintech what the cloud did for IT. The company says that its Global Payments Network connects a company to “all the ways the world likes to pay and the infrastructure to create your own fintech solutions, like ewallets, cards and financial services. With Rapyd, digital sellers in Latin America can accept cash.” Online shoppers in Asia can pay with their favorite ewallet. Businesses can make payouts to companies and individuals anywhere in the world. With 900+ payment methods in 100 countries, clients can open new markets, reach new customers, and create new opportunities anywhere.
Rapyd allows businesses to accept payments from customers via various methods, including bank transfers, digital wallets, and cash. Businesses can use Rapyd to send payments to suppliers, employees, or customers in different countries.
Overall, Rapyd is a comprehensive payment platform that helps businesses of all sizes expand their global reach and accept payments from customers anywhere in the world.
More than 250,000 businesses choose Rapyd as their global payment processor for higher authorization rates, long-term reliability and features that liberate global commerce.
