UK paytech Rapyd acquires Neat for Asian expansion
London-based paytech Rapyd has agreed to acquire Neat, a cross-border trade enabling platform for small businesses and start-ups. The terms of the deal were not disclosed.
Neat acquired by fellow fintech Rapyd
Founded in 2015 and based in Hong Kong, Neat provides full company incorporation, business accounts, global payment collection and disbursements, as well as credit card-based capital expansion services.
David Rosa, CEO and co-founder of Neat, says that joining the Rapyd family “turbo-charges” Neat’s capabilities.
“Rapyd does for fintech what the cloud did for IT,” the company states. Its payments network supports 900+ payment methods in over 100 countries and global payouts in over 200 countries.
Rapyd says it’s “uniquely suited to support entrepreneurs and small and medium businesses (SMBs) looking to incorporate, get online, and access new markets quickly and inexpensively”.
Rapyd was founded in 2016 and counts Stripe, General Catalyst, Target Global, Tiger Global, Durable Capital, BlackRock Funds and Tal Capital among its investors.
Earlier this year, it raised $300 million in a Series E funding round led by Target Global, which took the firm’s total raised to around $770 million and followed hot on the heels of its $300 million Series D round in January.
