Rapyd, a global B2B Fintech as a Service provider, announced on Monday it has partnered with major Brazilian payment providers, including Dock, a banking as a service technology company, Banco Rendimento, and other local partners to support cash, bank transfers, e-wallets, bill payments, debit and credit card transactions and issuing in Brazil through an all-in-one solution.
Rapyd reported that through the full-stack offering it seeks to support Brazil’s fintech and commerce ecosystem for both in-country and cross-border expansion. Brazilian merchants and international businesses will now be able to offer their customers the ability to pay with Brazil’s most popular payment methods, without the need to do multiple technical integrations. Arik Shtilman, CEO of Rapyd, stated
“We believe Brazil is a high-growth market with substantial opportunities to provide comprehensive payment services, including acceptance, disbursement, and issuing capabilities that support a variety of use cases in e-commerce, gig economy, digital goods, fintech, and B2B markets. Our full-stack Fintech as a Service offering provides both domestic and international companies that are doing business in Brazil with a way to reach out to a much larger pool of customers who are using alternative local payment methods.”
Rapyd is considered a Payment Institution in Brazil and has local employees to assist domestic and international clients with collection and disbursement capabilities. Rapyd also gives companies access to white-label ewallets and local card issuing. Fred Amaral, General Director at Dock, further commented:
“Brazil continues to offer an exciting and growing opportunity for all investors, and fintech innovators. We are proud to partner with Rapyd to provide technology services for financial and payments capabilities to both local market players and global entities looking to quickly and efficiently enter the Brazilian market.”
Helcio Nobre, Chief Product Officer at Rapyd, added:
“Rapyd has relationships with major global players in ecommerce and the gig economy, it makes sense for us to provide the same capabilities for those companies in Brazil that we offer internationally. Leading global enterprises work with us because we can accelerate their time to market and integrate fintech into their applications while removing the complexities of managing product, compliance and operations.”
The launch of Rapyd’s solution comes just a few months after the company raised a total of $180 million. This figure included the firm’s initial series A funding round, previously announced Series B round of $40 million led by General Catalyst and Stripe, and its $100 million Series C round led by Oak HC/FT and Tiger Global.