Fintech
Rapyd fires dozens of employees, moving positions from Israel to Eastern Europe
Israeli fintech unicorn Rapyd is laying off around 30 employees in Israel, Calcalist has learned. The company employs approximately 800 people in total in Israel. The layoffs will affect various departments of the company, with all positions of the furloughed employees being moved to Eastern Europe and South America in a desire to reduce costs.
In August last year, the company bought PayU GPO from Dutch investment firm Prosus for $610 million. Following the acquisition, Rapyd has the ability to transact in over 100 countries using more than 1,200 payment methods. It also has financial activity authorizations in 41 countries, with a broad range of partners, an integrated global team of approximately 1,700 employees in 22 offices worldwide representing more than 50 nationalities, and serves more than 250,000 clients worldwide. Its clients include prominent companies such as Adidas, Google, Ikea, Meta, Netflix, Rappi and Uber.