Rapyd, a leading global Fintech-as-a-Service provider, has completed the acquisition of PayU Global Payment Organisation (GPO) in Latin America and Africa.
This milestone marks an important step in Rapyd’s ongoing expansion, strengthening its position in key global markets.
This expansion increases Rapyd’s ability to offer card acquiring across 6 countries in Latin America including Mexico, Brazil, Argentina, Chile, Colombia and Peru. It also expands Rapyd’s market access into Africa in key countries such as Nigeria and South Africa. Rapyd will be able to expand its capabilities and personnel in these regions, as the two companies begin the process of combining their operations.
The acquisition financing was led by General Catalyst, Vista Credit Partners, and TAL Ventures with several new and previous Rapyd investors also participating.