Rapyd Financial Network News
29 articlesראפיד השלימה את רכישתה של חברת PayU בכ-610 מיליון דולר | כלכליסט
growth-negative
Rapyd seeks $300 million at $3.5 billion valuation, down 65% from peak | CTech
Rapyd, an Israeli fintech unicorn, is reportedly in talks to raise $300 million at a valuation of $3.5 billion, significantly lower than its previous $10 billion valuation in 2021. The company plans to use part of the funds for acquiring a startup in the payments sector. Recently, Rapyd acquired PayU Global Payment Organisation from Prosus for $610 million. Despite achieving a $15 billion valuation in 2022, Rapyd has laid off dozens of employees, transferring positions to Eastern Europe and South America. The company is also seeking an expanded clearing license in Israel to issue credit cards. Rapyds CEO has indicated that AI will significantly boost their EBITDA margins in the coming years.
InvestmentAcquisitionLayoffs
growth-positive
Rapyd is seeking a clearing license in Israel to compete with Isracard, Max, and other traditional players.
Rapyd, an Israeli fintech company, is seeking a clearing license from the Israel Securities Authority to compete with traditional credit card companies like Isracard and Max. If approved, Rapyd plans to issue credit cards, marking a significant expansion into the Israeli market. The company, which achieved a $15 billion valuation in 2022, aims to leverage its acquisition of Icelandic clearing company Korta to enter this market. Rapyd has already engaged with local businesses to secure agreements for clearing credit card payments. The move is part of a broader push to increase competition in the Israeli credit card market. However, Rapyd has also laid off dozens of employees, transferring positions to Eastern Europe and South America.
CustomersPartnersLayoffs
Growth-Negative
Rapyd lays off dozens of employees, transferring positions from Israel to Eastern Europe, South America | CTech
Israeli fintech company Rapyd is laying off about 30 employees in Israel and moving their positions to Eastern Europe and South America in a bid to reduce costs. This comes after the companys acquisition of PayU GPO from Dutch investment company Prosus for $610 million in August last year. The acquisition has enabled Rapyd to perform transactions in over 100 countries using more than 1,200 payment methods. The company has permits for financial activity in 41 countries and serves over 250,000 customers worldwide, including prominent enterprises such as Adidas, Google, Ikea, Meta, Netflix, Rappi, and Uber.
LayoffsAcquisitionCustomers
Rapyd is laying off dozens of employees and moving part of the development out of Israel.
growth-positive
Rapyd acquiring payment service PayU GPO for $610 million | CTech
Israeli fintech company Rapyd is acquiring PayU Global Payment Organisation from Netherlands-based investment company Prosus for $610 million. The acquisition will be financed through a capital raising of approximately $700 million. The acquired company has $350 million in annual revenue and about 1,000 employees, 80 of whom are in Israel and will be integrated into Rapyd. The purchase includes all operations in Europe, the Middle East, Africa, and Latin America, but does not include PayUs operations in India, Turkey, and Southeast Asia.
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growth-negative
Fintech giants battling in $500 million PayU bidding war | CTech
Investment company Prosus is looking to sell PayU. Bidders believed to include Rapyd and Nuvei. PayU acquired Israeli company Zooz in 2018. Sale value estimated to be over half a billion dollars.
InvestmentAcquisition
growth-negative
Fintech unicorn Rapyd set to lay off dozens of employees | CTech
Rapyd, Israels highest-valued startup with a $15 billion valuation, is preparing to lay off more than 10% of its 900 employees. The company reached its valuation through secondary deals and has investors such as BlackRock, Fidelity, General Catalyst, Target Global, and Spark Capital. Rapyd offers payment services for cross-border fund transfers and has raised a total of $960 million in funding. It recently acquired Valitor, an Icelandic payments company, and Neat, a Hong Kong-based cross-border trade platform. The layoffs are part of the companys workforce reduction plans for 2023 and 2024.
Layoffs
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Rapyd launches Hack the Galaxy challenge; winners to receive trip to the edge of space CTech
Israeli fintech company Rapyd has launched the Hack the Galaxy challenge, a series of virtual challenges for developers to win tickets to ride to the edge of space in a private capsule launching in 2026. The challenges will be posted in the Rapyd Developer Community every week through October 3. In addition to the challenges, there are opportunities to win via live events and hackathons. The ultimate winning team will be rewarded with the trip to the edge of space or a cash alternative prize of $130,000. The winners will enjoy a six-hour trip in the carbon-neutral spaceship with 360-degree views and plush reclining seats.
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growth-negative
First quarter of 2022 was the best in Rapyd's history, but we'll soon begin feeling the new reality, says decacorn CEO CTech
Rapyd, the Israeli fintech decacorn, anticipates feeling the effects of the global financial slowdown towards the end of the year. CEO Arik Shtilman believes that rising interest rates will negatively impact the growth of small and medium-sized businesses, which in turn will affect Rapyds growth. Despite reaching a valuation of $15 billion earlier this year, the company expects to face challenges due to the changing market conditions. Rapyd recently opened new offices in Dubai, where it plans to establish an R&D center and recruit a workforce that may be difficult to find in Israel. The company aims to hire 150 employees in Dubai over the next six months. Shtilman also mentioned that Rapyds IPO plans are set for the beginning of 2025.
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growth-positive
Rapyd reaches $15 billion valuation, becomes Israel's highest valued unicorn CTech
Israeli fintech company Rapyd has reached a valuation of $15 billion through recent secondary deals. The company offers payment services across the world and has seen its value surge six-fold since January 2021. Rapyd is now Israels highest valued private tech company and highest valued fintech company. It has raised a total of $960 million to date, with $160 million coming from secondary deals. Rapyd plans to recruit hundreds of new employees in the near future.
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growth-positive
Rapyd Acquires Hong Kong-Based Neat to Expand Small and Medium Business Trade Capabilities across Asia and Globally
Rapyd, a global Fintech-as-a-Service company, has agreed to acquire Hong Kong-based Neat, a cross-border trade enabling platform for SMBs and startups. The acquisition will allow Rapyd to provide company incorporation, business accounts, credit cards, and payments services from a single platform. By integrating Neat into the Rapyd Global Payments Network, small and medium businesses will have access to streamlined receivables and payables, real-time high-value payments, accelerated payments to suppliers across Greater China, and fast working capital through an in-wallet credit line. The acquisition is expected to support entrepreneurs and SMBs in incorporating, going online, and accessing new markets quickly and inexpensively. The terms of the deal were not disclosed, and it is subject to regulatory approval.
AcquisitionPartners
growth-positive
חברת הפינטק Rapyd השיקה שוב את האקדמיה להכשרת מהנדסים צעירים - וואלה! כסף
Rapyd, the Israeli fintech company, is planning to open a second round of its engineering training academy to address the workforce shortage in the tech industry. The company has developed an international payment platform and has raised $960 million in funding. With the growth of the company and the ongoing workforce crisis in the tech market, Rapyd aims to train and recruit young engineers through its academy. The previous training program had 20 participants, and the upcoming round will include around 30 graduates with a computer science degree. The graduates will receive a salary during the training and will immediately join Rapyds development teams.
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Rapyd and nate Announce Partnership to Expand eCommerce Reach and Offerings Globally
growth-positive
Rapyd Unveils "B2B Payments Infrastructure of the Future" to Support Global B2B Commerce and Trade Platforms
Rapyd has announced enhancements to its Disburse and Collect Platforms, providing new end-to-end infrastructure for B2B firms to pay suppliers and sellers while getting paid by customers more efficiently. The company has extended its Disburse platform capabilities to over 200 countries, allowing organizations to make payouts in leading global trade currencies. Rapyd clients can now also use Virtual Accounts to accept payments in Singapore and Europe. The article highlights the accelerated need for businesses to participate in digital ecosystems for trade, procurement, and labor, and Rapyd aims to serve cross-border B2B firms with a flexible payments solution. B2B eCommerce is growing globally, and Rapyd aims to provide the most payment and payout methods for B2B buyers and sellers. Rapyd is a global Fintech as a Service company that enables local and cross-border transactions in any market.
CustomersPartners
growth-positive
Fintech co Rapyd raises $300m at $8.75b valuation
Israeli fintech company Rapyd has completed a $300 million Series E financing round, bringing its valuation to an estimated $8.75 billion. The funding will be used to invest in the companys global fintech platform and expand its network capabilities worldwide. Rapyds platform enables swift local payments anywhere in the world, unifying fragmented payment systems and offering over 900 payment methods in over 100 countries. The funding round was led by Target Global and included participation from new and existing investors. Rapyd plans to make strategic acquisitions to support its expansion in key markets and enhance its payment products and experiences.
InvestmentExpandAcquisition
growth-positive
Rapyd to Acquire Valitor Expanding Access to Global Payments for its European Customers
Rapyd, a global Fintech as a Service company, has entered into a definitive agreement to acquire Valitor, an Icelandic payments solutions company, for $100 million. The acquisition will enhance Rapyds payment capabilities throughout Europe and expand its issuing portfolio. Rapyd aims to empower customers from any industry to streamline integration of omni-channel payments, expand into new markets, and unlock revenue and growth potential. The acquisition is seen as a game-changing transaction for the Icelandic payments market. Rapyd plans to make Iceland its European Hub and support local merchants while increasing its reach across Europe. The deal is subject to regulatory approval.
Acquisition
growth-positive
Rapyd buys Icelandic payment solutions co Valitor
Rapyd has entered into a definitive agreement to acquire Valitor, an Icelandic payments solutions company, for $100 million. The acquisition will strengthen Rapyds global payments network in Europe and empower customers to streamline integration of omni-channel payments, expand into new markets, and unlock revenue and growth potential. Rapyd, founded in 2016, offers fintech services through its platform and simplifies local payment methods. The company plans to make Iceland its European Hub and support local merchants while expanding its reach across Europe. Valitors management team is excited about the transaction and looks forward to working with Rapyd on the integration of the two businesses.
Acquisition
growth-positive
Rapyd launches Venture Arm to boost fintech innovation globally
Israeli fintech startup Rapyd has launched Rapyd Ventures, its new venture arm that will focus on investing in early and growth-stage businesses developing financial services innovation. Rapyd Ventures will provide capital, access to Fintech-as-a-Service capabilities, and strategic advice to startups. The venture arm will look at two types of projects: capability providers delivering core infrastructure and end-user platforms providing innovative financial services. Rapyds valuation has significantly increased over the past couple of years.
Investment
growth-positive
Rapyd leases 15 floors in Azrieli's triangle, spiral towers
Israeli fintech company Rapyd has signed a lease agreement for space in the Azrieli Center in Tel Aviv. The lease includes 11,000 square meters in a triangular tower and 14,000 square meters in an under-construction spiral tower. The leasing deal is estimated to be worth NIS 100 million for five years in the circular tower and NIS 150 million for five years in the spiral tower. Rapyd has developed a payment platform and currently has 300 employees in various locations around the world.
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growth-positive
Rapyd Raises $300 Million in Funding to Support Accelerated Growth Within Global Payments Industry
Rapyd, a global Fintech as a Service company, has announced a $300 million Series D financing round led by Coatue. The funding will be used to expand the companys global fintech and payments platform and enable strategic acquisitions. Rapyds platform simplifies the complexity of offering local payment methods and supports hundreds of payment methods including cards, bank transfers, ewallets, and cash. The COVID-19 pandemic has accelerated the adoption of digital payments, driving global growth for Rapyd. The company plans to double its engineering and product teams and expand its self-service platform. Rapyd is also exploring additional strategic acquisitions in different regions. The funding round is a vote of confidence in Rapyds vision and company.
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growth-positive
Fintech Startup Rapyd Acquires Credit Card Processing Company Korta
Israeli fintech startup Rapyd Financial Networks Ltd. has agreed to acquire Reykjavik-based credit card payment processing company Kortathjonustan hf (Korta). The financial terms of the all-cash deal were not disclosed, but it is estimated to be several tens of millions of dollars. Rapyd offers payment services enabling the transfer of electronic funds across borders through various means of payment. The acquisition of Korta will allow Rapyd to process credit card and debit card payments without requiring third-party services. The deal was made possible by the coronavirus crisis, as Rapyd actively sought companies with liquidity issues. Rapyd plans to make more acquisitions in the future. Rapyd completed a $100 million funding round in October, putting them in a privileged position during the crisis.
Acquisition
growth-positive
Kvika banki hf.: Kvika sells its shareholding in Korta hf.
Kvika has signed an agreement to sell all its shares in Korta hf. to the UK based fintech company Rapyd. The sale is subject to regulatory approval. The purchase price will be paid in cash and is estimated to be equivalent to Kortas book value at the end of last year. The sale is expected to have a positive impact on Kvikas growth. Kvikas CEO and the managing director of banking express their satisfaction with the sale and believe it will lead to further progress and opportunities for Kortas development.
Acquisition
growth-positive
Rapyd, which offers fintech-as-a-service via a single API, adds $20M more to its coffers at a $1.2B valuation
London-based fintech startup Rapyd has raised $20 million in funding, bringing its valuation to $1.2 billion. The funding round was led by investment firm Durable Capital Partners. Rapyd plans to use the funding to make acquisitions and expand its range of financial services. The company has already signed on 20 large-scale companies in the last three months, with a focus on Asia Pacific and Latin America. Rapyd offers an API that allows customers to access various financial services, including payments, compliance, foreign exchange, and card issuing. The startup is also piloting a logistics service in Indonesia. Rapyds previous investors include Oak HC/FT Tiger Global, Coatue, General Catalyst, Target Global, Stripe, and Entrée Capital.
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growth-positive
Henry Ellenbogen's Durable Capital Partners LP Makes First Investment in Fast-Growing Fintech-as-a-Service Provider Rapyd
Durable Capital Partners LP has made its first investment in Rapyd, bringing the total funding raised by Rapyd to approximately $180 million. Rapyds unified cloud-based technology platform helps businesses integrate Fintech and payment capabilities into any commerce application. The investment validates Rapyds market approach and its potential to scale as a global technology company. Durable Capital Partners LP believes in the potential of the Fintech-as-a-Service category and sees Rapyd as well-positioned to drive this trend.
Investment
growth-positive
Rapyd raises $100M for its 'fintech as a service' API, now valued at nearly a $1B valuation
London-based fintech startup Rapyd has raised $100 million in funding to expand its platform, make acquisitions, and grow its team. The company offers a single API that enables businesses to implement various payment-related services, such as checkout, compliance, foreign exchange, and card issuing. Rapyd has experienced strong growth, with its total payments volume growing more than five times this year. It counts Uber, other marketplaces, and merchants among its customers. The funding round was led by Oak HC/FT and included participation from Tiger Global, Coatue, General Catalyst, Target Global, Stripe, and Entrée Capital. Rapyds valuation is now close to $1 billion. The company aims to address the fragmentation in the global payments market and provide a unified solution for businesses.
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growth-positive
Rapyd nabs $40M led by Stripe and GC for 'fintech as a service,' a single API for payments, money transfer and more
Fintech startup Rapyd has raised $40 million in a Series B funding round led by Stripe and General Catalyst. The company plans to use the funds to expand its platform and customer base. Rapyd offers a suite of financial services, including payments, currency transfers, ID verifications, and card issuing, through a single API. It currently has around 50 customers in various industries. Rapyd aims to simplify complex financial processes for businesses and customers. The funding round brings the total raised by Rapyd to $60 million.
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Allied Wallet Partners with CashDash for Cardless ATM Withdrawals
growth-positive
CashDash launches cardless ATM cash solution in the UK
CashDash, a cardless ATM cash withdrawal service, has launched in London with a network of 53 ATMs. The service is powered by the CashDash mobile app, which allows users to add funds to their mobile wallet. Funds are held and managed by PSI-Pay. Users can make withdrawals by authorizing the transaction on their mobile device at a CashDash-affiliated ATM. The system also allows users to exchange currency within the app for a smaller fee than traditional exchanges. CashDash plans to expand into additional markets, including Barcelona and New York City.
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