Rapyd Completes Acquisition of Neat, Expanding Suite of Cross Border Trade Capabilities for Businesses

Among the new capabilities, Rapyd will now offer customers company incorporation in Hong Kong, business accounts, credit cards, and payments services from a single platform

HONG KONG and LONDON, Jan. 31, 2022 /PRNewswire/ -- Rapyd, a global Fintech-as-a-Service company announced today that it has completed the acquisition of Hong Kong-based Neat, a cross-border trade enabling platform for SMBs and startups.

Rapyd's global payments network supports more than 900 payment methods in over 100 countries and global payouts in over 200 countries making it uniquely suited to support entrepreneurs and Small and Medium Businesses (SMBs) looking to incorporate, get online, and access new markets quickly and inexpensively. Its easy-to-use API-based platform simplifies complex cross-border payments processes which are critical for businesses looking to engage in global trade. Neat's services, capabilities, and licenses will be integrated into Rapyd's platform providing an easy-to-use online global trade solution optimized for SMBs, entrepreneurs, and growing companies.

With the integration of Neat into the Rapyd Global Payments Network, users will now be able to: 

• Incorporate new companies in minutes, streamline receivables and payables in a single venue, starting with Hong Kong and soon in other trade-friendly markets around the world 
• Offer real-time high-value payments in Hong Kong via FPS, CHATS, and SWIFT
• Accelerate payments to suppliers across Greater China 
• Empower smart business and employee spending via virtual and physical Visa cards
• Provide eligible businesses with fast working capital through an in-wallet credit line

"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, 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."

About Rapyd

Rapyd is the fastest way to power local payments anywhere in the world, enabling companies across the globe to access markets quicker than ever before. By utilizing Rapyd's unparalleled payments network and fintech as a service platform, businesses and consumers can engage in local and cross-border transactions in any market. The Rapyd platform is unifying fragmented payment systems worldwide by bringing together 900-plus payment methods in over 100 countries. Rapyd's investors include Stripe, General Catalyst, Oak HC/FT, Coatue, Tiger Global, Durable Capital, Target Global, Fidelity Management and Research Company, Altimeter Capital, BlackRock Funds and Tal Capital. To learn more about the company that is accelerating the fintech as a service revolution, visit www.rapyd.net, read our blog, or follow us on LinkedIn and Twitter.

About Neat

Neat, a Rapyd company, makes the world of international trade more accessible to entrepreneurs, SMEs, and ambitious young companies from across the globe. Its purpose-built, financial services platform enables businesses to quickly, simply, and securely incorporate and open an account in Hong Kong, allowing them to receive and transfer multi-currency funds at competitive rates, issue Visa corporate cards to employees, integrate with accounting and payment gateways, and more. The application process is fully online and can be completed in just 15 minutes – no paperwork, no mandatory travel, no inflated fees, high exchange rates, hefty minimum balances, or lengthy waiting times. Learn more at https://www.neatcommerce.com.

Media contact:
Raanan Loew
Headline Media
+1-347-897-9276 
raanan@headline.media