Rapyd, a global fintech provider in the payments and services space, is acquiring Valitor, an Icelandic company that provides payment solutions. The Rapyd Group, a company that provides fintech-as-a-service, will acquire Valitor of Iceland, a company that develops technology for in-store and online payments, in a deal valued at $100 million
Rapyd, a “fintech-as-a-service” provider, to acquire Iceland-based Valitor, which develops in-store and online payments technologies, for $100M.
Arion Banki (Arion Bank) has entered into an agreement with Rapyd, a multinational Fintech as a Service (FaaS) company, in order to complete the acquisition of Valitor, a firm that provides Icelandic payments solutions.
There has been confirmation that the deal will be worth $100 million and subject to regulatory approval, as reported in a news release shared with Crowdfund Insider.
There is no doubt that Valitor is a well-established payments brand, as well as one of Europe’s leading payment providers. In Iceland, the United Kingdom, Ireland, and across Europe, Valitor offers both in-store and online payment acceptance options, as well as card issuance to SMB merchants.
By acquiring Valitor, Rapyd will be able to complement its extensive payment capabilities across Europe, while diversifying its issuing portfolio at the same time.
According to Rapyd’s announcement this week, after the firm raised a significant round of funding, the firm is actively searching for opportunities to acquire businesses, “targeting strong payments companies and enabling them to enhance their capabilities through the Rapyd Global Payments Network,” the company explained.
As a result of its strong European market position, the acquisition of Valitor will enable clients from any sector to become more efficient in integrating omni-channel payments, expanding into new markets, flattening FX fees, and thereby unlocking revenue and growth potential that they would otherwise be unable to reach.
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In addition to supporting the seamless integration of payment and related Fintech services into any web or mobile app, Rapyd’s extensive cloud-based tech allows it to simplify the complex process of providing domestic payment solutions by simplifying the integration process. As far as compliance is concerned, these services are provided in a compliant manner.
It is possible for Valitor merchants and businesses to expand into a broad range of new use cases and services by leveraging Rapyd’s Collect, Disburse, Wallet, and Issuing capabilities, while quickly entering new markets thanks to Rapyd’s ready-made payments infrastructure that suits their requirements.