Rapyd 100M Faridi Crowdfund Insider, a fintech-as-a-service (FaaS) provider, has acquired Iceland-based Valitor, for $100 million. On November 7, 2023, the deal was announced. Valitor is a payment processing company that gives in-store, and solutions for online payment. This firm has a strong existence in the Nordic region. The accession is expected to strengthen Rapyd’s existence in Europe and make it a global leader in the FaaS market. Rapyd will be able to use Valitor’s technology and expertise to stretch its product offering and reach new customers.
Eric Boles, co-founder and CEO of Rapyd said, “We are excited to welcome Valitor to the Rapyd family”. “This investment is a great step forward in our mission to make it easy for businesses to move money worldwide. Valitor’s technology and expertise will be critical as we continue to enlarge our reach and product offering.” The accession is subject to customary closing conditions and is expected to close in the fourth quarter of 2023.
What is Crowdfund Insider?
Crowdfund Insider is an independent digital news and information platform that offers the worldwide Fintech industry, with a focus on crowdfunding, blockchain, online lending, and other forms of alternative finance. This company was founded in late 2012. Also, it has established itself as a leading source of news. Furthermore, it analysis fintech experts, entrepreneurs, and investors.
Crowdfund Insider’s coverage encompasses a wide variety of topics, such as:
- Firstly, Crowdfunding trends and developments
- Secondly, Successful crowdfunding campaigns and deals
- Thirdly, Regulations and policies affecting Crowdfunding
- Fourthly, The impact of crowdfunding on businesses and investors
- Finally, Global perspectives on crowdfunding
What Does This Acquisition Mean for the Future of FaaS?
The purchase of Valitor by Rapyd is a sign of the growing consolidation in the FaaS market. As businesses increasingly look to move money worldwide, they are turning to FaaS providers for help. Rapyd is one of the leading FaaS providers, and the purchases of Valitor will only make it stronger.
The purchase is also a sign of the growing importance of the payment revolution. Valitor is a leader in the payments revolution, and its technology will be a helpful asset to Rapyd.
How Does FaaS Work?
FaaS (Function as a Service) is a cloud computing service that enables developers to build, distribute, and manage serverless applications without the difficulty of managing servers or infrastructure. With FaaS, developers can focus on writing code and letting the cloud provider handle the rest.
FaaS is based on the concept of containers, which are lightweight, self-contained units of software that package up code and all of its dependencies. FaaS platforms allow developers to deploy containers as functions, which are triggered by events such as HTTP requests, messages, or changes in data stores.
When a function is triggered, the FaaS platform spins up a container and executes the function’s code. Once the function is complete, the container is destroyed. So, this makes FaaS a very efficient and scalable way to run code, as the cloud provider only provisions resources when they are needed.
What are the Benefits of FaaS?
FaaS offers a wide range of benefits to businesses, such as:
- Reduced Costs: It can help businesses reduce the costs of moving money worldwide.
- Increased efficiency: It can help businesses to process payments more quickly and efficiently.
- Improved reach: It can help businesses reach new customers in new markets.
The Future of FaaS is Bright
In short, the FaaS market is looking to grow outstandingly in the future. As businesses increasingly look to move money worldwide, they will turn to FaaS providers for help. So, the purchase of Valitor by Rapyd is a sign of the growing importance of FaaS and the bright future of this market.