Rapyd buys Icelandic payment solutions company Valitor

Global payments and Israeli financial firm Rapyd announced that it has entered into a definitive agreement with Arion Banki to acquire Icelandic payment solutions company Valitor for $100 million. Rapyd has been pursuing acquisition opportunities with payment companies since it raised $300 million in January at a company valuation of $2.2 billion. It will complete the acquisition of Valitor and strengthen the presence of the global payments network Rapyd in Europe. Rapid added, “The acquisition of Valitor will enable customers in any industry to streamline multi-channel payments integration, expand into new markets, settle foreign exchange fees, and unlock returns and growth potential they wouldn’t otherwise be able to access.” With offices in Tel Aviv, London, San Francisco and Singapore, Rapyd was founded in 2016 as Cashdash by CEO Eric Schellman, Vice President of R&D Arkady Karpman, and Vice President of Corporate Development Omer Priel. Rapyd embeds fintech services into any application and simplifies the complexity of providing local payment methods with an easy-to-use API while managing diverse compliance and regulatory requirements. Businesses can accept and send payments without having to build their own infrastructure through the Rapyd global payments network, which supports hundreds of local payment methods including cards, bank transfers, e-wallets and cash. “Companies are looking beyond their borders to expand and expand their customer base, and they need the right payment providers that can make this happen quickly. With the acquisition of Valitor, customers across Europe will now have access to a larger and more diverse range of payment offerings,” said Schilman. , ensuring that more companies can take advantage of any opportunity they wish to pursue. Iceland has long distinguished itself as a cashless country and a hub for innovation, with extraordinary levels of talent and a well-developed payment system. We plan to continue growing and investing in Iceland, making it our hub We will support local merchants as we increase our reach across Europe so we can provide payment solutions to any company committed to pursuing global success.” “It has long been our stated intention to find a new and more suitable home for Valitor,” said Arion Bank CEO Benedict Jeslason. “At Rapid, we have found just that. A highly strategic partner, at the forefront of technological innovation and while complementing the strengths of those at Valitor. I would like to thank Our colleagues at Valitor for their collaboration and wish them all the best on their new adventures as part of the Rapyd Group.” Related Articles Rapyd rents 15 floors in Azrieli Triangle, Spiral Towers, Israeli fintech company Rapyd raised $300 million from the Tel Aviv battle of billboards, he added CEO Valitor Herdis Fjeldsted, “Today’s announcement represents a watershed moment in Valitor’s long history. This is a game-changing deal for the Icelandic payments market. The Valitor management team is excited about the future prospects and very much looks forward to working closely with Arik and the broader Rapyd team on the integration of the two companies.” Published by Globes, Israel business news – en.globes.co.il – on July 2, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021