• Rapyd, a digital payment infrastructure provider, has announced that it is acquiring Neat, a Hong Kong-based platform for SMBs that enables cross-border trade through services such as company incorporation, business accounts, and global payment processing, among others. The deal was subsequently closed in January 2022, and the terms were not disclosed.

• Through the acquisitions, Neat’s services and licenses will be integrated into Rapyd’s platform, enabling its SMB users to incorporate companies and process real-time payments in Hong Kong, accelerate payments to Chinese suppliers, issue virtual and physical Visa cards, and access working capital through credit lines. 

 <ul><li> Analyst QuickTake: The acquisition comes just four months after Rapyd raised USD 300 million in Series E funding, which the company intended to partially invest in making strategic acquisitions. Moreover, this is Rapyd’s second major acquisition in recent months, as it acquired Valitor , an Icelandic omnichannel payment service provider, for USD 100 million in July.</ul>