Rapyd, a global fintech as a services company, today entered into a definitive agreement with Arion Banki ( Arion Bank ) to acquire Valitor, an Icelandic solutions company of payment. The deal is valued at $ 100 million and is subject to regulatory approval.
Valitor is a well established brand in the field of payments and is considered one of the European leaders in this field. It provides in-store and online payment acceptance solutions and card issuance services to SMEs in Iceland, UK, Ireland and across Europe . The acquisition of Valitor will complement Rapyd ‘s existing payment capabilities across Europe , as well as its issuance portfolio.
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Following Rapyd’s recent round table, the company is actively pursuing acquisition opportunities, targeting successful payment companies and enhancing their capabilities by connecting them to Rapyd’s global payments network. Thanks to its strong presence in Europe , the acquisition of Valitor will allow customers across all industries to streamline the integration of omnichannel payments, expand into new markets, reduce foreign exchange costs and free up costs. income and growth potential that would otherwise be inaccessible to them.
“Businesses are looking beyond their borders to grow and expand their customer base, and they need the right payment providers who can do it quickly. With the acquisition of Valitor, customers across Europe will now have access to a larger and more diverse set of payment offerings, allowing more businesses to take advantage of all the opportunities that exist. ‘they wish to seize,’ said Arik Shtilman, co-founder and CEO of Rapyd. “Iceland has long distinguished itself as a cashless nation and center of innovation, with extraordinary levels of talent and a developed payments ecosystem. We plan to continue to grow and invest in Iceland, to make it our European Hub, and we will support local merchants while increasing our reach across Europe , so that we can provide payment solutions to any business engaged in the pursuit of global success. ”
Benedikt Gislason , CEO of Arion Bank, commented on the announced transaction: “We have long intended to find a new, more suitable home for Valitor. This is exactly what we found at Rapyd. A highly strategic partner, at the forefront of technological innovation and with advantages that complement those of Valitor. I would like to thank our colleagues at Valitor for their cooperation and wish them good luck in their new adventures within the Rapyd group. ”
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“Today’s announcement marks a defining moment in Valitor’s long history. This is a game-changing transaction for the Icelandic payments market. The Valitor management team is excited about the future prospects and looks forward to working closely with Arik and the entire Rapyd team on the integration of the two companies ”, added Herdís Fjeldsted , CEO of Valitor.
Rapyd’s comprehensive, cloud-based technology enables fast and easy integration of payments and fintech services into any web or mobile application and simplifies the complexity of delivering local payment methods while managing various compliance requirements and regulatory. By leveraging Rapyd’s collection, disbursement, portfolio and issuance capabilities, Valitor businesses and merchants can grow into a wide range of new use and service cases, and quickly enter new markets. new markets thanks to an out-of-the-box payment infrastructure that meets their needs.
