Rapyd, a “fintech-as-a-service” provider, to acquire Iceland-based Valitor, which develops in-store and online payments technologies, for $100M (Omar Faridi/Crowdfund Insider), which develops in-store and online payments technologies, for $100M (Omar Faridi/Crowdfund Insider)
Rapyd, an international Fintech as a Service (FaaS) provider, has signed a written agreement in partnership with Arion Banki to acquire Valitor, which is an Icelandic company that provides payment solutions.
According to a statement shared with Crowdfund Insider, the deal is worth $100 million and is “subject to regulatory approval.”
Valitor is a well-established payments company and one of the top European payment providers, accepting payments in-store as well as online and issuing cards to SMB merchants in Iceland and Ireland, the United Kingdom, Ireland, and throughout Europe.
Valitor’s acquisition Valitor is a plan to enhance the extensive capabilities of Rapyd’s payment services across Europe and expand its offering portfolio.
Following the recent investment round in Rapyd, The company is currently searching for acquisition opportunities, “targeting strong payments companies and improving their capabilities by linking with the Rapyd Global Payments Network,” the announcement said.
By acquiring Valitor, customers from all sectors will be able to “streamline the integration of omnichannel payments and explore new market segments, reduce FX charges, and unlock the growth potential and revenue that would otherwise be unattainable to clients.”
The vast array of cloud-enabled technology from Rapyd enables the rapid and easy integration of payment and other Fintech services into any website or mobile application, while reducing the task of providing domestic payment solutions. The services are provided in a manner that is compliant.
With the help of Rapyd’s collect, disburse, and issue capabilities, Valitor businesses and merchants can “expand into a variety of new applications and services and quickly move into new markets with the help of an existing payment infrastructure that is suited to their needs.”
- icelandbased valitor 100mfaridi crowdfundinsider
icelandbased valitor 100mfaridi crowdfundinsider