Rapyd , a global Fintech as a Service company, today reached a definitive agreement with Arion Banki ( Arion Bank ) to acquire Valitor , an Icelandic solutions company of payment. The size of the deal is $ 100 million and is subject to regulatory approval.
Valitor is a well established payments brand and is considered one of the European leaders in payments, offering solutions for accepting payments in stores and online, as well as issuing cards to SME merchants in Iceland, United Kingdom. Kingdom and Ireland, and throughout Europe. The Valitor acquisition will complement Rapyd’s existing payment capabilities across Europe, as well as enhance its portfolio of issuers.
Following Rapyd’s recent funding round, the company is actively pursuing acquisition opportunities, focusing on strong payments companies and enhancing their capabilities by connecting them to the Rapyd Global Payment Network.
With its strong presence in Europe, the Valitor acquisition will allow clients in any industry to streamline omnichannel payments integration, expand into new markets, flatten FX rates, unlock revenue and growth potential that would otherwise be unaffordable. for them.
“Businesses are looking beyond their borders to scale and expand their customer base, and they need the right payment providers that can do it quickly. With the acquisition of Valitor, customers across Europe will now have access to a larger pool and more diverse of payment offers, ensuring that more companies can seize whatever opportunity they wish to pursue, “said Arik Shtilman, co-founder and CEO of Rapyd.
“Iceland has long distinguished itself as a cashless nation and a hub of innovation, with extraordinary levels of talent and developed a payments ecosystem. We plan to continue growing and investing in Iceland, making it our European hub, and we will support to local merchants while increasing our reach across Europe to offer payment solutions to any company committed to the pursuit of global success. ”
Benedikt Gislason , CEO of Arion Bank , commented on the announced transaction: “Our longstanding intention was to find a new and more appropriate home for Valitor. At Rapyd we have found exactly that.
A highly strategic partner, at the forefront of innovation. technological and with strengths complementary to those of Valitor. I would like to thank our colleagues at Valitor for their cooperation and wish them the best of luck in their new adventures as part of the Rapyd Group. ”
“Today’s announcement marks a milestone in Valitor’s long history. This is a game-changing transaction for the Icelandic payments market. Valitor’s management team is excited about the future prospects and is looking forward to working closely with Arik. and Rapyd’s broader team in integrating the two businesses, “added Herdís Fjeldsted , CEO of Valitor.
Rapyd’s comprehensive cloud-based technology enables fast and easy integration of fintech payments and services into any web or mobile application and simplifies the complexity of offering local payment methods while managing various regulatory and compliance requirements.
By leveraging Rapyd’s collection, disbursement, portfolio, and issuance capabilities, Valitor businesses and merchants can expand to a broad set of new use cases and services, quickly entering new markets thanks to a ready-made payments infrastructure that adapts to your needs.