Rapyd, a global B2B Fintech as a Service provider, announced on Monday it is set to acquire Korta, an Iceland-based payment card service provider. Rapyd reported the acquisition provides Rapyd with online acquiring and point-of-sale (POS) capabilities as the company grows its worldwide footprint.
While sharing details about the acquisition, Rapyd CEO Arik Shtilman stated by leveraging Korta’s omnichannel card acquiring technology, the company may expand its fintech as a service platform into new channels and payment methods to provide merchants a truly integrated and localized solution with the platform’s APIs and automated self-service tools.
“We believe Korta’s omnichannel card offering combined with the Rapyd Global Payments Network can provide merchants of any size a much better experience than current market offerings due to our ability to provide over 900 local payment methods in more than 100 countries.”
Founded in 2016, Rapyd has over 200 employees globally with operations in Europe, the Middle East, Asia, and the Americas. The company stated
“With Rapyd, digital sellers in Latin America can accept cash. Online shoppers in Asia can pay with their favorite ewallet. And businesses can make payouts to companies and individuals anywhere in the world. With 900+ payment methods in 100 countries, you can open new markets, reach new customers, and create new opportunities anywhere.”
In October 2019, Rapyd raised a $100 million Series C financing putting the company’s valuation at over $1Billion.