On 8 December 2021, Rapyd, a global Fintech-as-a-Service company agreed to acquire Hong Kong-based Neat, a cross-border trade enabling platform for Small and Medium Businesses (SMBs) and startups.
Neat provides full company incorporation, business accounts, global payment collection and disbursements, as well as credit card-based capital expansion services. 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. This acquisition will allow Rapyd customers 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
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