CTech
Israeli fintech company Rapyd announced on Thursday that it is acquiring Icelandic payments company Valitor in a deal valued at $100 million.
Valitor supplies payments solutions for businesses across Europe, providing both in-store and online payments acceptance solutions as well as card issuing to SMB merchants in Iceland, the U.K. and Ireland, and across Europe. Rapyd said it is actively seeking companies to acquire following its $400 million funding round at a $2.5 billion valuation in January of this year. Rapyd is targeting payments companies in order to enhance its capabilities by connecting them to the Rapyd Global Payments Network.
“Businesses are looking beyond their borders to scale up and expand their customer base, and they need the right payment providers that can make it happen quickly,” said Arik Shtilman, Rapyd co-founder and CEO. “With the acquisition of Valitor, customers across Europe will now have access to a greater and more diverse set of payment offerings, ensuring that more companies can take advantage of any opportunity they wish to pursue.”
