Rapyd Acquires PayU GPO
Summary
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 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: • A Global Payments Network of over 1,200 payment methods supported by 18 settlement hubs • 41 countries that are licensed or regulated • 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.
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