Israeli fintech unicorn Rapyd buys PayU GPO for USD610 million
Israeli fintech unicorn Rapyd is acquiring PayU Global Payment Organization (GPO) from Netherlands-based investment company Prosus for USD610 million.
PayU is a provider of payment solutions for organizations and small and medium-sized businesses in developing markets, operating in over 30 countries around the world.
Gornitzky advised Rapyd, with Shlomo Landress, Dan Fisher, Danya Sakols and Gabriela Zashin instrumental in the transaction. DLA Piper provided regulatory and due diligence support, as well as working on various compliance components of the transaction, related to the target subsidiaries in several jurisdictions.
The acquisition of PayU GPO expands Rapyd’s global reach, strengthening its position in key vertical markets including eCommerce, logistics and transportation. The completion of the transaction is subject to regulatory approvals in various countries.
