Stripe-backed payment localisation platform Rapyd raised the cash from Durable Capital Partners at a reported $1.2bn valuation to help drive its merger and acquisition strategy.

Rapyd, a UK-based payment infrastructure provider that counts mobile payment technology provider Stripe as an investor, raised $20m from investment firm Durable Capital Partners on Tuesday.

The funding was secured at a $1.2bn valuation according to TechCrunch. The deal comes two months after a $100m series C round that reportedly valued Rapyd at almost $1bn.

Founded in 2016, Rapyd has built a software development platform that lets e-commerce clients integrate support for more than 900 payment methods including bank…