US payments network Rapyd is set to purchase Icelandic company Valitor from Arion Bank in a $100m deal.
Founded in 2016, Rapyd markets a global payments network that connects companiesâ€™ to customers, and enables the former to build the infrastructure to create FinTech solutions like cards, e-wallets and financial services.
Valitor provides its customers with both in-store and online payment acceptance solutions alongside card issuing to SMB merchants in Iceland, the UK, Ireland and all over Europe.
Rapyd co-founder and CEO Arik Shtilman said, â€œIceland has long distinguished itself as a cashless nation and an innovation hub, with extraordinary levels of talent and a developed payments ecosystem. We plan to continue to grow and invest in Iceland, making it our European Hub, and will support local merchants while increasing our reach across Europe so that we can provide payment solutions to any business committed to pursuing global success.”
Back in 2019, Rapyd achieved unicorn status after it secured $20m in an investment round â€“ pushing it over the $1bn valuation. Earlier this year, Rapyd bagged $300m in a Series D funding round.
According to Shtilman, the firm is using the funding to actively pursue other acquisition opportunities.
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