Rapyd co-founders Arkady Karpman (right), Arik Shtilman, and Omer Priel (left). (Company PR pic)
Rapyd, an Israeli fintech startup, is acquiring PayU Global Payment Organization from the Netherlands-based investment company Prosus for $610 million. The deal, however, does not include the acquisition of PayU’s India, Turkey and Southeast Asia operations.
Rapyd said its acquisition of PayU is a strategic move that continues the company’s global expansion across emerging markets in Central and Eastern Europe and Latin America. Combined with PayU GPO, Rapyd now boasts 100+ transacting countries, over 250,000 merchant clients globally, and expansion of the Rapyd Global Payments Network to over 1,200 payment methods supported by 18 settlement hubs
The new combined firm will be licensed or regulated in 41 different countries, have a portfolio of Tier 1 enterprise clients including Adidas, Google, Ikea, Meta, Netflix, Rappi and Uber, a wide range of partner channels that acquire SMB merchants including integrated software vendors (ISVs), independent sales organizations (ISOs) and payment facilitators (PayFacs) and a combined global workforce of 1700, working in 22 offices worldwide and representing 50+ nationalities.
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Founded in 2016, Rapyd boats that it does for fintech what the cloud did for IT. The company says that its Global Payments Network connects a company to “all the ways the world likes to pay and the infrastructure to create your own fintech solutions, like ewallets, cards and financial services. With Rapyd, digital sellers in Latin America can accept cash.” Online shoppers in Asia can pay with their favorite ewallet. Businesses can make payouts to companies and individuals anywhere in the world. With 900+ payment methods in 100 countries, clients can open new markets, reach new customers, and create new opportunities anywhere.
Rapyd CEO and co-Founder Arik Shtilman stated, “Rapyd’s been on a mission to build bold, and our global expansion continues unabated with a nearly 100% year-over-year growth rate in 2023. Our strategy focusing on both organic growth and acquisitions uniquely positions Rapyd to be one of the largest integrated global fintechs in the world, clearly delivering on our vision of a single, integrated Fintech-as-a-Service platform.”
