Company:Rapyd

From HandWiki
Rapyd
TypePrivate
IndustryFinancial technology
Founded2016
FoundersArik Shtilman
Arkady Karpman
Omer Priel
Websiterapyd.net

Rapyd is a digital payment processing and fintech services company founded in Tel Aviv in 2016.[1][2] The company provides a platform for payments and financial services.[3] It is Israel's largest private high-tech company.[4]

History

2010s: Foundation as CashDash

Rapyd was founded in 2016 as a consumer-facing digital wallet called CashDash, intended for travelers.[1] In 2017, the company pivoted to a business-to-business model, developing a suite of APIs that provide access to global financial services.[5]

2020s: Expansion as Rapyd

In April 2020, Rapyd acquired KORTA, an Icelandic payment service provider and card acquirer.[6] In July 2022, Rapyd completed the acquisition of Valitor, an Icelandic payments solutions company, from Arion Banki for approximately $110 million. Valitor provided in-store and online payment acceptance and card issuing to merchants across Iceland, the United Kingdom, Ireland, and Europe.[7]

In August 2021, Rapyd became Israel's most valuable private startup with a valuation of over $8 billion.[8] In July 2022, it was valued at $15 billion.[4]

In May 2022, Rapyd opened an office in Dubai, becoming the first Israeli company to be regulated in the United Arab Emirates.[9][10][11] In June 2025, Rapyd entered into a seven-year sponsorship deal with Maccabi Tel Aviv basketball club, officially changing the team's name to Maccabi Rapyd Tel Aviv.[12][13]

In March 2025, Rapyd announced the acquisition of PayU Global Payment Organization (GPO) in Latin America and Africa for $610 million.[2] In May 2026, Rapyd announced a corporate restructuring to reposition its global operations around AI-driven operations.[14][15]

References

  1. ↑ 1.0 1.1 Stub, Zev (January 2021). "Israeli fintech company Rapyd raises $300 million". The Jerusalem Post. https://www.jpost.com/israel-news/israeli-fintech-company-rapyd-raises-300-million-655305. 
  2. ↑ 2.0 2.1 Methri, Gloria (17 March 2025). "Rapyd acquires PayU GPO: Expanding into LatAm and Africa". IBS Intelligence. https://ibsintelligence.com/ibsi-news/rapyd-acquires-payu-for-610m-expanding-into-latam-africa/. 
  3. ↑ Lunden, Ingrid (3 December 2019). "Rapyd, which offers fintech-as-a-service via a single API, adds $20M more to its coffers at a $1.2B valuation". TechCrunch. https://techcrunch.com/2019/12/03/rapyd-which-offers-fintech-as-a-service-via-a-single-api-adds-20m-more-to-its-coffers-at-a-1-2b-valuation/. 
  4. ↑ 4.0 4.1 Orbach, Meir (13 March 2022). "ראפיד בשווי 15 מיליארד דולר - חברת ההייטק הפרטית הגדולה בישראל". Calcalist. https://www.calcalist.co.il/calcalistech/article/sykgldcbc. "עסקאות סקנדרי בחברת התשלומים הישראלית ראפיד שהתבצעו בחודשיים האחרונים העניקו לה שווי של 15 מיליארד דולר. נהפכה לחברת הפינטק הגדולה בישראל, מאוגוסט השנה זינק שוויה ב־50% ואף הקימה קרן השקעות פנימית." 
  5. ↑ Lunden, Ingrid (13 January 2021). "Rapyd raises $300M on a $2.5B valuation to boost its fintech-as-a-service API". TechCrunch. https://techcrunch.com/2021/01/13/rapyd-raises-300m-on-a-2-5b-valuation-to-boost-its-fintech-as-a-service-api/. 
  6. ↑ "Rapyd enters card acquiring market through Korta acquisition". Finextra Research. 24 April 2020. https://www.finextra.com/pressarticle/82294/rapyd-enters-card-acquiring-market-through-korta-acquisition. 
  7. ↑ "Rapyd Financial Network Ltd. completed the acquisition of Valitor hf from Arion banki hf. for $110 million". MarketScreener. S&P Capital IQ. 1 July 2022. https://www.marketscreener.com/quote/stock/ARION-BANKI-HF-44279919/news/Rapyd-Financial-Network-Ltd-completed-the-acquisition-of-Valitor-hf-from-Arion-banki-hf-for-110-m-41132410/. 
  8. ↑ Tress, Luke (3 August 2021). "Rapyd becomes Israel's most valuable private startup with $300m funding round". The Times of Israel. https://www.timesofisrael.com/rapyd-becomes-israels-most-valuable-private-startup-with-300m-funding-round/. 
  9. ↑ "Rapyd Company Overview & News". https://www.forbes.com/companies/rapyd/. 
  10. ↑ "Rapyd becomes first Israeli company set to be regulated in UAE". Gulf News. May 2022. https://gulfnews.com/business/rapyd-becomes-first-israeli-company-set-to-be-regulated-in-uae-1.88446765. 
  11. ↑ "Trade and security ties are knitting Israel into its region". The Economist. 22 September 2022. https://www.economist.com/middle-east-and-africa/2022/09/22/trade-and-security-ties-are-knitting-israel-into-its-region. 
  12. ↑ "Starting today, say: Maccabi Rapyd Tel Aviv". 15 July 2025. https://maccabi.co.il/news.asp?id=37727&lang=en. 
  13. ↑ Greenberg, Zeli (17 June 2026). "Why do businesspeople buy sports teams?". The Jerusalem Post. https://www.jpost.com/business-and-innovation/all-news/article-899684. 
  14. ↑ Wrobel, Sharon (29 May 2026). "Major Israeli tech firms commence sweeping layoffs as AI revolution roils industry". The Times of Israel. https://www.timesofisrael.com/major-israeli-tech-firms-commence-sweeping-layoffs-as-ai-revolution-roils-industry/. 
  15. ↑ Shulman, Sophie; Orbach, Meir (28 May 2026). "We are restructuring Rapyd: fintech unicorn begins layoffs amid AI shift". Calcalist. https://www.calcalistech.com/ctechnews/article/h1r00jfrgzl. 



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