Crowdfundinsider 100mfaridi Rapyd, a provider of financial software as a service and solutions, has agreed to buy Valitor, a major provider of in-save and online pricing technology for European traders.The transaction is valued at €94 million ($100 million), which incorporates the acquisition rate in addition to running capital from July 2015.
Valitor’s generation gives traders with incorporated card bills an opportunity to reach the market. The organization presently powers the pricing environment at the bulk of big outlets and supermarkets in Iceland, imparting point-of-sale, online, and cell billing over its Fastnet steady network. The acquisition will offer Rapyd an instantaneous presence in Iceland and allow it to hastily develop its service provider base at some point in Europe.
Austin McChord, Founder & CEO of Rapyd, said: “This is a good-sized leap forward for Rapyd as we set up our role as one of the fastest-developing fintech businesses in the world.” In the fintech industry today, online and cell billing are the most exciting boom areas, and Valitor provides us with the infrastructure we need to enter this market quickly.
Lars Mather, Founder and CEO of Valitor, added: “We have selected Rapyd as our strategic go-out vehicle.” We had been inspired by their executional strength, sturdy control crew, and speedy boom. “We are looking forward to working with them on developing a $250 billion ecosystem-serving international commercial enterprise.”
Valitor, founded in 2009, is headquartered in Reykjavik, Iceland, and employs over 650 people worldwide.Valitor had raised over €100 million from buyers prior to today’s final acquisition, including funding from SKB Group, Eirikur Capital, and KK Investment Partners.
Rapyd was founded in 2014 and now operates on a global scale from offices in the United States, Paris, and Reykjavik.The organization’s transactional commercial enterprise is augmented by its fintech-as-a-service (FaaS) suite and price offerings platform, which includes a number of software products designed to simplify bills across numerous industries.
The valuation of the acquirer has been calculated with an IRR of 83% on sales according to transactions.
Rapyd, a “fintech-as-a-service” provider, to acquire Iceland-based Valitor, which develops in-store and online payments technologies, for $100M (Rapyd Valitor 100mfaridi Crowdfundinsider)
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