Rapyd acquires PayU, expanding its Fintech and payment solutions globally

Rapyd, the global provider of Fintech-as-a-service, announced the acquisition of PayU GPO for USD $610 million, excluding PayU operations in India, Turkey, and Southeast Asia. This acquisition strengthens Rapyd’s position in the fintech sector and accelerates its global expansion plans, particularly in emerging markets in Latin America.

PayU —part of the global consumer internet investment group based in the Netherlands— is a leader in payment solutions for businesses and SMEs in emerging markets, operating in more than 30 countries around the globe. At the same time, Rapyd is a leader in Fintech-as-a-service and has an extensive global payment network and solid experience in local markets.

Rapyd and PayU will process transactions in more than 100 countries, have over 250,000 customers worldwide, and expand Rapyd’s Global Payment Network to more than 1,200 payment methods backed by 18 settlement centers. They will have licenses or regulations in 41 countries and a portfolio of Tier 1 company clients that includes Adidas, Google, Ikea, Meta, Netflix, Rappi, and Uber. They will have a combined global workforce of 1,700 people, working in 22 offices worldwide and representing over 50 nationalities.

If we consider that, according to a TechCrunch report and the State of Fintech Q2 report from CB Insights, fintech companies in Latin America and the Caribbean raised USD $500 million during the second quarter of 2023, Rapyd’s acquisition of PayU not only consolidates the company’s global expansion in emerging markets but also establishes Latin America as one of the central regions for its business, as it is one of the significant deals in the sector so far this year.

At the same time, with Rapyd acquiring PayU, the Fintech infrastructure is strengthened. In 2022, it was the sector with the most venture capital investment, representing 29% of last year’s assets, according to the Association for Private Capital Investment in Latin America (LAVCA).

The acquisition of the PayU entities further consolidates Rapyd’s position as a global fintech leader, continuing the company’s path toward an initial public offering (IPO).