Israeli global Fintech-as-a-Service company Rapyd has completed the acquisition of Hong Kong-based Neat, a cross-border trade enabling platform for SMBs and startups, the company announced Tuesday. Rapyd made headlines last August when it raised $300 million in a Series E funding round at a $10 billion valuation.
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Rapyd's global payments network supports more than 900 payment methods in over 100 countries and global payouts in over 200 countries. Its API-based platform simplifies complex cross-border payments processes that are critical for businesses looking to engage in global trade. Neat's services, capabilities, and licenses will be integrated into Rapyd's platform.
"Completing the acquisition of NEAT represents a significant step forward in expanding our platform's global capabilities for small and medium businesses," said Arik Shtilman, CEO and co-founder of Rapyd. "As SMBs have evolved into increasingly complex and ambitious enterprises, the tools they require must advance as well in order to keep pace with the demands of this new wave of 'micro-multinationals.' We will continue to add more tools to our network in order to continue to support these growing businesses."
