Cross-border payment funding rounds for January 2021, featuring Rapyd, PPRO, and Curve highlighted

In the world of digital payments, three companies have stood out during the Covid-19 pandemic: Checkout.com, Rapyd, and Curve.

Checkout.com, a B2B digital payment processing company, has seen its valuation nearly triple to $15bn, after being valued at $5.5bn in June 2020. The company's EBITDA is reported as double-digit millions on substantial nine-figure revenues, and its processed volumes tripled in 2020. This rapid rise illustrates the growth of the online payment processing industry during the pandemic, as most commerce shifted online.

Processing businesses, particularly those facilitating online purchases, have benefited significantly from this shift. Checkout.com's success is a testament to this trend, with its valuation and processed volumes tripling in 2020.

Meanwhile, Rapyd, another B2B payment company, is currently serving over 5,000 customers. Founded by Arik Shtilman, Rapyd did not disclose any specific financial figures for its 2019 revenues or operating losses. However, according to its CEO, Rapyd's growth plans for 2021 were achieved in three months of 2020. Following the acquisition of card acquirer Korta in 2020, Rapyd is seeking more strategic acquisitions.

Rapyd did not provide any information about its plans for a US market expansion or the launch of a new product. In contrast, Curve, a B2C payment company, reported revenues of $8.1m in 2019, nearly double the $4.1m in 2018. Curve plans to use its new funds to expand to the US market and launch a new product, Curve Credit, in 2021.

Curve partnered with Checkout.com in 2020 to deliver all acquiring services and currently claims to have over 2 million customers. Curve's operating losses more than quadrupled from $8.9m in 2018 to $39.0m in 2019, due to significant investments in its people and products.

PPRO, a B2B global payment company, reported revenues of $44.1m in 2019, a slight increase from the previous year's $43.3m. However, the company restructured in 2019, resulting in an operating loss of $14.4m, compared to an operating profit of $0.1m in 2018. According to PPRO, the company doubled its year-on-year transaction volumes in the fourth quarter of 2020.

Each of these companies' successes highlights the growing importance of digital payment processing in the modern economy. As commerce continues to move online, these companies are poised to play a significant role in facilitating transactions and driving growth in the industry.

Cross-border payment funding rounds for January 2021, featuring Rapyd, PPRO, and Curve highlighted