Rapyd, a payment infrastructure provider, is acquiring a part of PayU (the payments group of Prosus that caters to emerging markets) for USD 610 million. The deal is subject to regulatory clearance, and PayU will retain its operations in India, Turkey, and Southeast Asia, reportedly three primary regions for the business.

Post-acquisition, Rapyd will have 41 licensed or regulated countries it operates from, which enhances its ability to offer card-acquiring solutions across Europe and Latin America.

Rapyd also indicated that it is in the final stages of closing a new funding round of around USD 700 million. 

Analyst QuickTake: Rapyd has looked toward inorganic growth through strategic acquisitions in the past. In 2021, it acquired Neat , a cross-border trade enablement platform for SMBs (in December) and Icelandic omnichannel payment services provider Valitor (in July for USD 100 million). Moreover, the industry as a whole has seen consolidation in the recent past with several acquisitions. Some key acquisitions earlier this year include Visa acquiring Pismo , Socure acquiring Berbix , Bankable acquiring Arex Markets , FIS acquiring Bond , Embedded Finance Ltd acquiring Railsr , and Marqeta acquiring Power Finance .