London-based FaaS platform Rapyd is set to acquire Icelandic payment solution company Valitor for £73M

In the latest development, Rapyd, a London-based Fintech as a Service company, has agreed to acquire Valitor, an Icelandic payments solutions company, from Arion Banki (Arion Bank) for $100 million (approx £73 million).

Valitor provides both in-store and online payments acceptance solutions and card issuing to SMB merchants in Iceland, the UK and Ireland, and across Europe. 

The UK company plans to streamline integration of omnichannel payments, expand into new markets, flatten FX fees, unlocking revenue and growth potential that would otherwise be inaccessible to them.

By leveraging Rapyd’s Collect, Disburse, Wallet, and Issuing capabilities, Valitor businesses and merchants can expand into a broad set of new use cases and services, quickly enter new markets. 

Furthermore, Rapyd is actively pursuing acquisition opportunities, targeting strong payments companies following their $300 million (approx £218 million) financing round in January. 

Founded in 2016 by Arik Shtilman, Arkady Karpman, and Omer Priel, Rapyd embeds fintech services into any application and simplifies the complexity of offering local payment methods. 

Furthermore, the company is unifying fragmented payment systems worldwide by bringing together 900-plus payment methods in over 100 countries.

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