Draft:Rapyd 2
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| Company type | Private |
|---|---|
| Industry | Financial technology |
| Founded | 2016 |
| Headquarters | , |
| Website | www |
Rapyd is a financial technology company that provides payments and "fintech-as-a-service" infrastructure via application programming interfaces (APIs).[1] The company is headquartered in London and operates globally.[2]
History
[edit]Rapyd was founded in 2016 by Arik Shtilman, Arkady Karpman and Omer Priel. The business originated as a consumer e-wallet called CashDash before pivoting to B2B infrastructure.[3][1]
In January 2021 Rapyd raised a US$300 million Series D round at a US$2.5 billion valuation.[1] In August 2021 it announced a further US$300 million Series E financing; contemporary reporting placed the valuation at approximately US$8.75 billion.[4]
Products and services
[edit]Rapyd provides APIs for accepting payments, sending payouts, foreign exchange, card issuing and digital wallets for businesses operating in multiple countries.[1] Following its expansion, industry coverage has described Rapyd’s network as spanning over 100 transacting countries with hundreds of locally preferred payment methods.[5]
Partnerships
[edit]In November 2019, Mastercard launched its Fintech Express programme in Asia Pacific with Rapyd as the programme’s first onboarded partner.[6]
In February 2020, Rapyd and Visa announced an agreement to collaborate on fintech and payment services in multiple markets.[7]
Acquisitions
[edit]In April 2020 Rapyd agreed to acquire Icelandic card acquirer Korta; the transaction closed in July 2020.[8][9]
In July 2021 Rapyd entered a definitive agreement to acquire Icelandic payments company Valitor from Arion Bank for US$100 million; Icelandic regulators approved the deal in May 2022 and completion was announced on 1 July 2022 (with an additional US$10 million payment due to closing delays).[10][11][12]
In July 2023 Rapyd agreed to acquire a major part of PayU’s Global Payments Organisation (GPO) from Prosus for US$610 million to expand in Central and Eastern Europe, Latin America and other regions; completion in Latin America and Africa was announced in March 2025 after regulatory approvals.[13][14][15]
Regulation
[edit]In the European Economic Area, services are provided through Rapyd Europe hf., an electronic money institution supervised by the Central Bank of Iceland. In the United Kingdom, services are provided through CashDash UK Limited (trading as Rapyd), which is authorised by the Financial Conduct Authority as an electronic money institution (reference number 900769).[16][17]
See also
[edit]References
[edit]- ^ a b c d Lunden, Ingrid (13 January 2021). "Rapyd raises $300M on a $2.5B valuation to boost its fintech-as-a-service API". TechCrunch. Retrieved 10 September 2025.
- ^ "Rapyd buys Valitor in $100M deal". Payments Dive. 2 July 2021. Retrieved 10 September 2025.
- ^ "Israeli fintech company Rapyd raises $300 million". The Jerusalem Post. 13 January 2021. Retrieved 10 September 2025.
- ^ Lunden, Ingrid (3 August 2021). "Rapyd raises $300M on $8.75B valuation as fintech-as-a-service continues to boom". TechCrunch. Retrieved 10 September 2025.
- ^ Rapyd's PayU GPO acquisition: CEO Arik Shtilman on strategic jump (Report). FXC Intelligence. 1 August 2023. Retrieved 10 September 2025.
- ^ "Mastercard launches Fintech Express in Asia Pacific; Rapyd onboarded as the first fintech partner to join the program and obtain an issuing license" (Press release). Mastercard Newsroom. 11 November 2019. Retrieved 10 September 2025.
- ^ "Visa partners with Fintech's Rapyd amid global expansion". PaymentExpert. 18 February 2020. Retrieved 10 September 2025.
- ^ "Rapyd enters card acquiring market through Korta acquisition" (Press release). Finextra. 24 April 2020. Retrieved 10 September 2025.
- ^ "Rapyd completes acquisition of Iceland-based Korta". Payments Dive. 7 July 2020. Retrieved 10 September 2025.
- ^ "Rapyd to acquire Valitor, expanding access to global payments for its European customers" (Press release). Rapyd. 1 July 2021. Retrieved 10 September 2025.
- ^ "Merger of Rapyd and Valitor". Icelandic Competition Authority. 24 May 2022. Retrieved 10 September 2025.
- ^ "Rapyd Financial Network Ltd. completed the acquisition of Valitor hf from Arion banki hf for $110 million". MarketScreener. 1 July 2022. Retrieved 10 September 2025.
- ^ Lunden, Ingrid (31 July 2023). "Rapyd acquires a piece of PayU from Prosus for $610M to scale its fintech-as-a-service platform". TechCrunch. Retrieved 10 September 2025.
- ^ "PayU to sell its Global Payment Organisation to Rapyd for US$610m" (Press release). Prosus. 1 August 2023. Retrieved 10 September 2025.
- ^ "Rapyd acquires PayU for $610m, expanding into LatAm & Africa". IBS Intelligence. 17 March 2025. Retrieved 10 September 2025.
- ^ "Electronic money and payment services supervision". Central Bank of Iceland. Retrieved 10 September 2025.
- ^ "CashDash UK Limited – Electronic Money Institution (ref. 900769)". TheBanks.eu. Retrieved 10 September 2025.
External links
[edit]