One of the fastest-growing fintech companies, Rapyd announced today that it has completed the acquisition of Neat. The new acquisition will enhance the capabilities of Rapyd significantly.
Based in Hong Kong, Neat is a cross-border trade enabling platform for SMBs and startups. Through Neat’s acquisition, Rapyd will now offer clients company incorporation in Hong Kong, business accounts, credit cards and payments services from a single platform.
Moreover, the new integration will enable the users of Rapyd Global Payments Network to accelerate payments to suppliers across Greater China. Neat, now a Rapyd company, facilitates businesses in simple and secure incorporation. Furthermore, it supports firms in the account opening in Hong Kong.
"Completing the acquisition of NEAT represents a significant step forward in expanding our platform's global capabilities for small and medium businesses," said Arik Shtilman, the CEO and Co-Founder of Rapyd. "As SMBs have evolved into increasingly complex and ambitious enterprises, the tools they require must advance as well in order to keep pace with the demands of this new wave of 'micro-multinationals.' We will continue to add more tools to our network in order to continue to support these growing businesses."
Amid growing demand for financial technology products across the world, Rapyd has increased its acquisitions in the last few years. In July 2021, the fintech services provider entered into a definitive agreement with Arion Bank to acquire Iceland’s payments firm, Valitor.
Integration
Neat’s integration has opened several doors for the company to expand its operations. “Users will now be able to incorporate new companies in minutes, streamline receivables and payables at a single venue, starting with Hong Kong and soon in other trade-friendly markets around the world. Additionally, it will offer real-time high-value payments in Hong Kong via FPS, CHATS, and SWIFT,” Rapyd added.
Last year, Rapyd expanded its senior leadership team with new hires.
