Israeli fintech company Rapyd has completed the acquisition of European fintech PayU from Dutch investment firm Prosus for approximately US$610 million.

The deal, initially signed in August 2023, concluded after receiving approval from seven regulatory authorities worldwide.

To finance the acquisition, Rapyd raised US$500 million, primarily through equity, with a minor portion sourced from debt. The company’s valuation during this funding round was around US$4.5 billion, a significant decrease from its US$10 billion valuation in 2021.

Founded in 2015, Rapyd provides a global payments platform that facilitates transactions, including bank transfers, digital wallets, and cash payments.

Following the acquisition, Rapyd will operate in over 100 countries, offer more than 1,200 payment methods, and hold financial permits in 41 nations.

Recent Rapyd developments