Rapyd

Israeli fintech unicorn Rapyd is laying off approximately 30 employees in Israel, which represents a small portion of its 800-person workforce in the country. The layoffs, announced in June 2024, affect various departments as the company moves these positions to Eastern Europe and South America to reduce operational costs. Rapyd, a global payments platform serving major clients like Adidas and Uber, employs about 1,700 people worldwide. This restructuring follows its $610 million acquisition of PayU GPO last year, which expanded its global reach but now prompts cost-cutting measures.

Israeli fintech company Rapyd is laying off dozens of employees in the coming months, following its acquisition and merger with Icelandic company Valitor. The downsizing comes as the Tel Aviv-based digital payments platform integrates operations after completing the delayed $100 million Valitor deal, which added about 300 employees globally. Rapyd, valued at $8.75 billion in 2021 and operating in the competitive fintech sector alongside players like Stripe and PayPal, is restructuring its workforce as part of planning for 2023-2024. The layoffs, announced in November 2022, affect various teams and management levels, reflecting post-merger consolidation in the high-growth tech industry.