Following the announcement, Rapyd plans to enhance its services and speed up its expansion in various global regions. The acquisition is valued at USD 610 million, contingent on receiving necessary regulatory approvals from multiple countries.
Rapyd’s primary objective includes expanding its global reach while strengthening its presence in key sectors such as logistics, e-commerce, and transport. This deal also supports Rapyd’s strategy to expedite its initial public offering (IPO) plans.
With the integration of PayU Global Payment Organisation, Rapyd gains access to 41 countries that are both licensed and regulated. Additionally, it benefits from a roster of enterprise clients including Netflix, Google, Adidas, among others. The company also has operational presence in around 100 transacting countries worldwide, serving more than 250,000 merchant and trader clients globally.
Furthermore, Rapyd will have access to a diverse range of partner channels for acquiring small to medium-sized business (SMB) traders, including integrated software vendors (ISVs), payment facilitators (PayFacs), and independent sales organisations (ISOs).
Incorporating the benefits from PayU GPO’s integration, Rapyd gains enhanced technological capabilities, a broader market reach for combined merchant portfolios, and expanded geographic licensing.
Rapyd’s Development Strategy
Rapyd, as a Fintech-as-a-Service provider, has secured several partnerships and launched various initiatives over the past few months in different geographical regions worldwide.
In May 2023, Rapyd partnered with Belvo, an Open Finance data and payments platform covering Latin America. This collaboration aimed to offer businesses across Latin America enhanced open finance services, leveraging Rapyd’s global payment network and Belvo’s expertise in open banking.
In November 2022, Rapyd launched a multi-currency treasury solution designed for optimizing international payments operations in the Asia-Pacific region. The service aims to improve financial relationships among firms engaged in cross-border trade by allowing CFOs, controllers, and treasurers to manage liquidity, mitigate currency risks, balance currencies, and optimize their Singapore-based treasury hub.
