Rapyd, a London-based fintech-as-a-service provider, said it raised $100 million in financing, led by Oak HC/FT, to further develop its cloud-based platform and expand in local and cross-border markets. 

The funding was backed by Tiger Global, Coatue, General Catalyst, Target Global, Stripe and Entree Capital. 

"Rapyd was founded to solve a global challenge — helping businesses to provide highly localized commerce experiences by enabling the four billion consumers around the world to pay and be paid using locally preferred payment methods," Arik Shtilman, co-founder and CEO of Rapyd, said via email. “Outside of the U.S., the majority of consumers use other means of payments beyond credit cards — cash, bank transfers, e-wallets and local debit schemes."

Cover image: Rapyd