Rapid, a provider of financial services software-as-a-service and solutions, recently announced that it will acquire Valitor, an Icelandic-based fintech firm focused on payments innovation.
According to Crowdfund insider, the deal is worth €94 million ($100 million). This acquisition was expected to strengthen Rapyd’s presence in the European market and make it a global leader in payment technology.
Valitor is one of the leading players in Europe when it comes to online and coming up payments innovation. With this acquisition, Rapyd will be able to provide more efficient payment processing solutions to merchants in Europe and continue its growth in the global arena.
The company had previously acquired Paynetics in 2020 which was another acquisition that showed its commitment to strengthening its product offering through strategic acquisitions.
Valitor has been providing payment solutions since 2004 with its innovative products such as Visa Direct Instant Payments and PSD2 Open Banking APIs.
With over three decades of experience in payments technology, Valitor’s team is well-equipped to help Rapyd expand its European operations and meet the demands for efficient payment processing solutions across the continent.
Additionally, both companies have complementary technologies that enable merchants to support new digital use cases such as loyalty programs, digital wallets, e-commerce transactions, and much more.
Valitor’s CEO Arnar Mar Jonsson said “We are delighted by this announcement and look forward to joining forces with Rapyd to further accelerate our mission of reinventing payment experiences for consumers around Europe.”
He also added, “Rapyd has demonstrated a strong commitment towards creating secure and reliable payment infrastructure that serves multiple markets worldwide which is why we believe our partnership will bring greater value for all stakeholders involved”.
The acquisition of Valitor is part of Rapyd’s plan to build a comprehensive suite of products and services that can help merchants reduce their operational costs while increasing scalability.
The company has also partnered with several banks across Europe in order to offer faster transaction processing rates on their debit card networks.
Furthermore, they have also added support for numerous alternative payment methods includingApple Pay, Google Pay, PayPal Express Checkout, and Masterpass QR Code Payments.
This move by Rapyd strengthens its position as one of the most innovative financial technology firms globally. With strategic acquisitions like these, they are sure to gain more market share and help enhance payment infrastructure across Europe.
Iceland-based valitor crowdfund insider, Rapyd’s acquisition of Valitor is a strategic move that will allow them to further expand its presence in the European market and become a global leader in payment technology.
With over three decades of experience, Valitor’s team and technologies are well-equipped to help Rapyd reach its goals for efficient payment processing solutions across Europe.
This move by Rapyd strengthens its position as one of the most innovative financial technology firms globally, enabling merchants to reduce operational costs while increasing scalability through new digital use cases.
All stakeholders involved should benefit from this partnership, making it an exciting prospect for both companies moving forward.
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