Rapyd, a London, UK-based Fintech-as-a-Service provider, acquired PayU Global Payment Organisation (‘GPO’; not including PayU’s India, Turkey and Southeast Asia operations) of Netherlands-based Prosus (AEX:PRX) (XJSE:PRX), a global consumer internet group.
Rapyd will purchase PayU GPO, a provider of payment solutions to both enterprise and SMB segments in emerging markets, operates across over 30 countries worldwide, for $610m. The completion of the transaction is subject to receipt of regulatory approvals in various countries.
The acquisition aims to accelerate Rapyd’s expansion plans as the fintech moves towards an IPO. The deal represents a strategic move that continues the company’s global expansion across emerging markets in Central and Eastern Europe and Latin America.
Led by CEO and co-Founder Arik Shtilman, Rapyd provides a fintech platform, extensive global payments network, and local markets expertise, which now, combined with PayU GPO, boasts:
- 100+ transacting countries
- Over 250,000 merchant clients globally
- A Global Payments Network of over 1,200 payment methods supported by 18 settlement hubs
- 41 countries that are licensed or regulated
- 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)
- A combined global workforce of 1700, working in 22 offices worldwide and representing 50+ nationalities
The company has offices worldwide, including Tel Aviv, Dubai, London, Iceland, San Francisco, Miami, Hong Kong and Singapore.
FinSMEs
01/08/2023