Rapyd, the renowned Fintech as a Service provider, has made yet another significant acquisition in a bold stride toward expanding its fintech empire. This time, it has clinched PayU's Global Payments Organisation (GPO) for an impressive cash consideration of $610 million.
From its humble beginnings as a mobile payments company in 2016, Rapyd has rapidly evolved into a powerhouse, catering to global giants like Ikea and Uber, and empowering them with local and cross-border payment solutions. With a vast network spanning over 100 countries, Rapyd offers customers seamless access to markets, enhancing their speed and strength.
For Netherlands-based PayU, this strategic move frees up resources, allowing them to sharpen their focus on the flourishing payments and fintech landscape in India, where they serve a staggering 450,000 merchants and over 2 million credit customers.
Aligned with Rapyd's growth strategy, this acquisition will propel the company's presence in Central and Eastern Europe and Latin America. Moreover, it will open doors to valuable underlying licenses and payment processing infrastructure, cementing Rapyd's position as a global fintech frontrunner.
As Rapyd continues to trailblaze in the fintech realm, this latest acquisition speaks volumes about its commitment to innovation, market expansion, and empowering businesses worldwide. With a strengthened global presence, the stage is set for Rapyd to scale new heights and revolutionize the financial landscape.
