PR93540

HONG KONG and LONDON, Dec. 8, 2021 /PRNewswire=KYODO JBN/ --

- Global Fintech Rapyd expands Asia Pacific footprint by acquiring Hong

Kong-based Neat, expanding Greater China coverage, and offering company

incorporation, business accounts, credit cards, and payments services from a

single platform

- Neat helps international Small and Medium-sized businesses launch in Hong

Kong and reach local markets worldwide

- Simplified business account supports payment collection and disbursements to

suppliers enabling worldwide market access through Rapyd's Global Payments

Network

Rapyd [https://www.rapyd.net/], a global Fintech-as-a-Service company has

agreed to acquire Hong Kong-based Neat [https://www.neatcommerce.com/], a

cross-border trade enabling platform for SMBs and startups. Neat provides full

company incorporation, business accounts, global payment collection and

disbursements, as well as credit card-based capital expansion services. Terms

of the deal were not disclosed and it is subject to regulatory approval.

By integrating Neat into the Rapyd Global Payments Network, small and medium

businesses will 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

Rapyd's expertise in delivering fintech services at scale coupled with its

global payments network that supports more than 900 payment methods in over 100

countries and global payouts in over 200 countries makes 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 young companies.

Joel Yarbrough, Managing Director of Rapyd Ventures and Vice President of Asia

Pacific, commented on the acquisition, stating: "Neat has enabled thousands of

businesses to intelligently manage their trade flows and working capital,

through fast incorporation, virtual accounts, payables, and spend management.

As SMBs need to go digital and globalize at an even faster rate due to the

pandemic, together Neat and Rapyd can help businesses everywhere sell their

goods and services in new markets with less complexity, flatten FX fees, to

unlock revenue and growth potential that would otherwise be inaccessible to

them."

David Rosa, CEO and co-founder of Neat, commented further about the

acquisition, stating: "Neat has been executing towards a vision of becoming the

most popular payment platform for international SMBs. Joining the Rapyd family

turbo-charges our capabilities and we are super excited about it. Our

comprehensive business solution, high-touch support model, excellent onboarding

experience and easy-to-use capabilities are an ideal complement to Rapyd's

world-class technology and global payments network. Together, this makes us a

strategic partner to SMBs that want the freedom and ability to realize their

own ambitions, regardless of their location or wherever they see business

opportunities across the globe."

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 [

https://www.rapyd.net/resources/?utm_campaign=2020%252520Public%252520Relations&utm_source=resources-blog

], or follow us on LinkedIn [

https://www.linkedin.com/company/rapyd1/?utm_campaign=2020%252520Public%252520Relations&utm_source=linkedin

] and Twitter [

https://twitter.com/RapydPayments?utm_campaign=2020%252520Public%252520Relations&utm_source=twitter

].

About Neat

Neat 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

raanan@headline.media

+1-347-897-9276

Source: Rapyd