rapiddthe leading global provider of Fintech-as-a-service, announced the purchase of PayU for 610 million dollars to grow in the Latin American marketsCentral and Eastern Europe and pave the way for the company towards an initial public offering (IPO).
The payment technology company of Israeli origin bought PayU GPO (Global Payments Organization), from Prosus, a global investment group in consumer internet based in the Netherlands and one of the largest technology investors in the world.
PayU offers payment solutions for companies and SMEs in emerging markets; operates in more than 30 countries around the world.
Rapyd prepares to expand to LatAm
“Rapyd’s mission has always been to grow boldly, and our global expansion continues uninterrupted with a year-over-year growth rate of nearly 100% by 2023. Our strategy, focused on both organic growth and acquisitions, positions Rapyd from uniquely as one of the world’s largest integrated global fintechs, delivering on our vision of a platform for Fintech-as-a-Service unique and integrated,” said Arik Shtilman, CEO and co-founder of Rapyd, in a statement.
With this purchase Rapyd reaches
- Transactions in more than 100 countries.
- More than 250,000 customers around the world.
- Expansion of the Rapyd Global Payment Network network to more than 1,200 payment methods supported by 18 settlement centers.
- 41 countries with licenses or regulation.
- A client portfolio of Tier 1 companies that includes Adidas, Google, Ikea, Meta, Netflix, Rappi and Uber.
- A wide variety of partner channels that acquire small and medium-sized merchants, including Integrated Software Vendors (ISVs), Independent Sales Organizations (ISOs), and Payment Facilitators (PayFacs).
- A combined global workforce of 1,700 people, working in 22 offices around the world and representing more than 50 nationalities.
Rapyd currently has offices around the world, including Tel Aviv, Dubai, London, Iceland, San Francisco, Miami, Hong Kong and Singapore.
Editorial Team The editorial team of EMPRENDEDOR.com, which for more than 27 years has worked to promote entrepreneurship.