Rapyd, a “fintech-as-a-service” provider, to acquire Iceland-based Valitor, which develops in-store and online payments technologies, for $100M (Omar Faridi/Crowdfund Insider)

icelandbased valitor crowdfundinsider

Rapyd, a multinational Fintech as a Service (FaaS) provider, has entered into a definitive agreement with Arion Banki (Arion Bank) in order to acquire Valitor, an Icelandic payments solutions firm.

As confirmed in a release shared with Crowdfund Insider, the deal size is $100 million and “subject to regulatory approval.”

Valitor is an established payments brand and it’s also one of Europe’s payments leaders, offering in-store and online payments acceptance options along with card issuing to SMB merchants in Iceland, the United Kingdom, Ireland, and across Europe.

The acquisition of Valitor will aim to complement Rapyd’s extensive payment capabilities throughout Europe, while improving its issuing portfolio.

After Rapyd’s recent investment round, the firm is actively seeking out key acquisition opportunities, “targeting strong payments companies and enhancing their capabilities by connecting them to the Rapyd Global Payments Network,” the announcement revealed.

With its solid European market presence, the acquisition of Valitor will aim to empower clients from any sector to “streamline integration of omni-channel payments, expand into new markets, flatten FX fees, unlocking revenue and growth potential that would otherwise be inaccessible to them.”

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