“Can a single API-first platform own end-to-end global commerce — acquiring, payouts, wallets, cards, and stablecoins — across every regulated jurisdiction at once?”
Founded 2015 as CashDash, a consumer cash-exchange product, then pivoted to a fintech-as-a-service API platform giving non-financial businesses global payments, payouts, card issuing, and wallets. Aggressively expanded via M&A (Valitor, PayU GPO units) to own card acquiring rails rather than only orchestrating them. Valuation reset from $9B to $3.5B in 2025 reflects the broader BaaS/embedded-finance downcycle, but Rapyd is now uniquely vertically integrated — licensed EMI in EEA/UK, MPI in Singapore — combining direct acquiring with a global payouts network.
Rapyd discloses Rapyd Europe hf. (in-house), Rapyd Payments Limited (in-house), CashDash UK Limited (in-house), Rapyd Holdings Pte Ltd. (in-house), Evolve Bank & Trust and MVB Bank as its banking providers, according to the Embedded Finance Index 2026.
Rapyd does not disclose a bank charter of its own; its banking services are provided through Rapyd Europe hf. (in-house), Rapyd Payments Limited (in-house), CashDash UK Limited (in-house), Rapyd Holdings Pte Ltd. (in-house), Evolve Bank & Trust and MVB Bank.
Rapyd processes payments through Rapyd Collect (self-operated), Rapyd Disburse (self-operated), Rapyd Issuing (self-operated), Rapyd Wallet (self-operated), Rapyd Virtual Accounts (self-operated), Valitor (in-house, acquired) and PayU GPO units (in-house, acquired). Disclosed money-movement rails: Visa Direct, Mastercard Send and Push-to-card.
Rapyd's cards are issued through Rapyd Issuing (in-house) on the Visa and Mastercard networks.
Rapyd's lending and capital products are provided by Rapyd (in-house, HK Money Lenders License).
Rapyd runs its ledger on Rapyd Wallet (in-house).
Rapyd connects to bank accounts through Token.io.
Rapyd uses Rapyd Disburse (self-operated), Visa Direct and Mastercard Send for FX and cross-border payouts.
Rapyd integrates with Xero.
The Embedded Finance Index 2026 maps 11 layers in Rapyd's stack: Payments / PSP (Rapyd Collect (self-operated), Rapyd Disburse (self-operated), Rapyd Issuing (self-operated), Rapyd Wallet (self-operated) and 3 others); Money movement (Visa Direct, Mastercard Send and Push-to-card); Banking / BaaS (Rapyd Europe hf. (in-house), Rapyd Payments Limited (in-house), CashDash UK Limited (in-house), Rapyd Holdings Pte Ltd. (in-house) and 2 others); Card issuing (Rapyd Issuing (in-house)); Card network (Visa and Mastercard); Ledger (Rapyd Wallet (in-house)); Lending (Rapyd (in-house, HK Money Lenders License) and Merchant funding / merchant cash advance (Rapyd blog content)); Open banking (Token.io); Sponsor bank (Evolve Bank & Trust and MVB Bank); FX & payouts (Rapyd Disburse (self-operated), Visa Direct and Mastercard Send); Accounting (Xero).
Rapyd is founded in 2015 and headquartered in London, United Kingdom.
Rapyd has raised $770M+ in total (latest round: Series F (reported 2025, ~$300M target); valuation: $3.5B (2025, down from $8.75B in 2021)).
Rapyd's acquisitions include PayU GPO (2025), Valitor (2022) and Neat (2021).
Get a read on where your own stack stands against Rapyd and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.