Rapyd is currently valued at $8.75 billion and has raised more than USD 806 million so far.

Fintech-as-a-Service provider Rapyd has acquired PayU Global Payment Organisation (GPO) from Prosus for $610 million excluding its India, Turkey, and Southeast Asia operations. PayU GPO offers payment solutions in emerging markets across more than 30 countries.

The acquisition strengthens Rapyd’s position as a global fintech leader and contributes to its ongoing expansion in Central and Eastern Europe and Latin America. The deal also brings several benefits to Rapyd, including an expanded technology stack, broader market reach, and an expanded geographical licensing footprint. (Businesswire)

With this acquisition, Rapyd now covers over 100 transacting countries, serves over 250,000 global merchant clients, supports over 1,200 payment methods via 18 settlement hubs, and operates in 41 licensed or regulated countries. The combined portfolio includes prominent enterprise clients such as Adidas, Google, Ikea, Meta, Netflix, Rappi, and Uber.

Rapyd CEO Arik Shtilman revealed that the company’s growth rate in 2023 was nearly 100% and that this strategic move aligns with Rapyd’s vision of becoming a major integrated global fintech through both organic growth and acquisitions.

PayU CEO Laurent le Moal expressed confidence in Rapyd’s ability to take the GPO business to the next level, expanding solutions in the evolving fintech landscape. As global commerce opportunities expand, businesses are seeking comprehensive payment solutions, and Rapyd aims to meet these needs by offering a single, integrated Fintech-as-a-Service platform.

The completion of the acquisition is subject to regulatory approvals in various countries. Rapyd’s extensive global presence, coupled with PayU GPO’s expertise, positions the company well in key markets like eCommerce, logistics, and transportation. It reduces complexity for businesses launching new applications by providing comprehensive cross-border payments and commerce technology.

As a global consumer internet group and technology investor, Prosus builds consumer internet companies in markets with long-term growth potential. PayU, its payments and fintech business, operates in 50+ high-growth markets, empowering over 450,000 merchants and millions of consumers with cutting-edge financial services.

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