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Combination will unleash first truly integrated payments platform serving the world’s emerging and developed markets
Acquisition accelerates Rapyd’s expansion plans as the global fintech moves towards an IPO
Rapyd, the leading global Fintech-as-a-Service provider, announced today the acquisition of PayU Global Payment Organisation (‘GPO’; not including PayU’s India, Turkey and Southeast Asia operations) of Netherlands-based Prosus PRX PRX, a global consumer internet group and one of the largest technology investors in the world. PayU GPO, a leading provider of best-in-class payment solutions to both enterprise and SMB segments in emerging markets, operates across over 30 countries worldwide. Rapyd will purchase PayU GPO for $610 million.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230731625413/en/
Rapyd’s industry-leading fintech platform, extensive global payments network, and local markets expertise, coupled with the acquisition of PayU GPO, further solidifies Rapyd’s position as a dominant global fintech leader continuing the company’s trajectory towards an IPO. The acquisition 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 boasts an unprecedented:
- 100+ transacting countries
- Over 250,000 merchant clients globally
- Expansion of the Rapyd Global Payments Network to 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
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