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Rapyd to buy Hong Kong-based Neat

Rapyd to buy Hong Kong-based Neat

Fintech-as-a-service platform Rapyd is boosting its Asia Pacific presence through the acquisition of Hong Kong-based Neat. Financial terms were not disclosed.

Neat provides a cross-border platform for SMBs and startups that helps them move into new markets by assisting with full company incorporation, business accounts, global payment collection and disbursements, as well as credit card-based capital expansion services.

Rapyd says that by integrating Neat into its network, SMEs 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 markets.

SMEs will also get access to real-time high-value payments in Hong Kong via FPS, Chats, and Swift, as well as accelerated payments to suppliers across Greater China.

Joel Yarbrough, VP, Asia Pacific, Rapyd, says: "As SMBs need to go digital and globalise 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."

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