Rapyd has completed its $610 million acquisition of PayU’s Global Payments Organisation (GPO) from Dutch investment firm Prosus. This milestone deal, which was initially signed in August 2023, has now been finalized following approvals from seven regulatory bodies worldwide. To secure the acquisition, Rapyd raised $500 million, primarily in equity, with a small portion in debt. The company’s valuation in this funding round stands at approximately $4.5 billion, significantly lower than its peak valuation of $10 billion in 2021.
This latest funding round brings Rapyd’s total capital raised to over $1 billion, marking one of the largest investments in Israeli tech history. Post-acquisition, the company will employ around 1,600 people and is set to generate over $1 billion in annual revenue. Rapyd’s global footprint includes operations across Europe, the UK, South America, Asia, and the U.S., with plans to establish a presence in Israel in 2025.
Founded in 2015 by Arkady Karpman, Arik Shtilman, and Omer Priel, Rapyd offers a comprehensive payment infrastructure, facilitating digital transactions, bank transfers, and cash payments worldwide. The company previously held the title of Israel’s most valuable private tech firm in 2022, reaching a $15 billion valuation during the peak of the tech boom.
In a strategic move to expand its services, Rapyd has applied for an expanded license from the Israel Securities Authority, potentially enabling it to enter the credit card market and compete with established players like Isracard and MAX.
PayU GPO specialises in payment solutions for businesses in emerging markets, operating across more than 30 countries. The acquisition includes PayU’s operations in Europe, the Middle East, Africa, and Latin America but excludes its businesses in India, Turkey, and Southeast Asia. Rapyd outbid several major payment companies in a competitive acquisition process.
With this acquisition, Rapyd now can process transactions in over 100 countries, supporting more than 1,200 payment methods. The company also holds financial licenses in 41 countries and has established a broad network of partnerships, further solidifying its position as a global fintech leader.
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