Roehl Niño Bautista · · 1 min readPayments network Rapyd completes trading platform acquisition
Global fintech firm Rapyd has completed its acquisition of Hong Kong-based Neat, a cross-border platform that enables trade for small and medium-sized businesses (SMBs) and startups. The deal’s value was not disclosed.
Rapyd CEO and co-founder Arik Shtilman / Photo credit: Rapyd
Founded in 2016, Rapyd is a fintech-as-a-service platform that claims to link 900 payment methods in over 100 countries and enable global payouts in more than 200 markets. The acquisition marks the firm’s latest step into expanding its Asia-Pacific footprint.
Neat said it has processed more than US$700 million in transactions on its trading platform since it was founded in 2015.
The integration enables real-time, high-value payments and quick incorporation for new firms in Hong Kong, while accelerating payments to suppliers across China. Businesses will also get access to quick working capital as well as virtual and physical Visa cards to make their spending easier.
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“As SMBs have evolved into increasingly complex and ambitious enterprises, the tools they require must advance as well in order to keep pace with the demands of this new wave of ‘micromultinationals,'” said Arik Shtilman, CEO and co-founder of Rapyd.
Editing by Miguel Cordon and Jaclyn Tiu
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