Rapyd Completes $610M Acquisition of PayU GPO, Expands Footprint in Latin America and Africa

Israeli FinTech-as-a-Service provider Rapyd has successfully acquired PayU’s Global Payment Organisation (GPO) in Latin America and Africa for approximately $610 million. The deal, initially announced in August 2023, was finalized after securing approvals from seven regulatory bodies worldwide.

PayU GPO, a division of the Dutch technology investment firm Prosus, operates as a leading payment solutions provider across more than 30 countries. The sale enables PayU to concentrate on India’s booming payments and credit market, where it serves over 450,000 merchants and two million credit customers.

Prosus stated that this strategic move aligns with its goal of focusing on high-growth markets. By streamlining its operations, PayU aims to drive innovation in India’s rapidly evolving digital payments sector.

Rapyd Strengthens Market Presence

Rapyd, known for its digital payment processing and financial infrastructure solutions, gains a significant foothold in Latin America and Africa through this acquisition. The deal grants Rapyd card-acquiring capabilities in six key Latin American markets—Mexico, Brazil, Argentina, Chile, Colombia, and Peru—while also expanding its reach into African economies such as Nigeria and South Africa.

As the integration process begins, Rapyd expects to enhance its service offerings, broaden its regional expertise, and strengthen its local teams.

To finance the acquisition, Rapyd secured $500 million, primarily in equity, with a minor debt component. The funding round was led by General Catalyst, Vista Credit Partners, and TAL Ventures, alongside participation from both new and existing investors.

With this expansion, Rapyd positions itself as a dominant force in global digital payments, reinforcing its commitment to driving financial inclusion and innovation across emerging markets.