My guest this week is an avid basketball enthusiast, Michael Jordan memorabilia collector and actually gets a lot of his business inspiration and insight when he’s courtside. Rapyd CEO Arik Shtilman has a professional passion to build the biggest company he can – and at a rapid pace.
For those of you who may not know, Rapyd is a fintech company that provides API for other SMBs and enterprise-level organizations to build financial services applications on top of their white label platform. Arik will be the first to specify though that they are not a payments company but, rather, a fintech-as-a-service company.
So, what is fintech-as-a-service? According to Arik, it breaks down into four basic categories:
· Payments
· Money disbursement
· Card issuing
· Digital wallets
And all of these comprise their white label offering that they provide for their clients to be payments prolific with a fully functioning platform. Not to mention, they take care of all the global compliance regulations behind the scenes. So, this means clients coming from almost any space on the globe can transact with confidence and without burden.
Also worthy of mention, the company has raised a total of nearly $800 million in funding, with a $400 million revenue stream and a valuation of $15 billion.
Tune in this week to hear Arik talk about his journey to CEO and where he sees the industry going in the next 2 to 3 years, including a push for even more fintechs, a checkout experience that happens without you even knowing it, and a growth strategy focused solely on gross margin.
