Global Fintech-as-a-Service platform Rapyd announced that it has completed the acquisition of Neat, a Hong Kong-based cross-border trade enabling platform for small and medium-sized businesses (SMBs) and startups.
Neat’s services, capabilities, and licenses will be integrated into Rapyd’s platform providing an easy-to-use online global trade solution optimised 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.
Users will also be able to offer real-time high-value payments in Hong Kong via FPS, CHATS, and SWIFT as well as accelerate payments to suppliers across Greater China.
This merger will also empower smart business and employee spending via virtual and physical Visa cards as well as provide eligible businesses with fast working capital through an in-wallet credit line.
Rapyd’s global payments network supports more than 900 payment methods in over 100 countries and global payouts in over 200 countries.
Its API-based platform simplifies complex cross-border payments processes which are critical for businesses looking to engage in global trade.
“Completing the acquisition of NEAT represents a significant step forward in expanding our platform’s global capabilities for small and medium businesses. 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.”
said Arik Shtilman, CEO and Co-founder of Rapyd.