Rapyd lays off dozens of employees, transferring positions from Israel to Eastern Europe, South America
Rapyd lays off dozens of employees, transferring positions from Israel to Eastern Europe, South America
The fintech unicorn is cutting 30 positions in Israel and is moving them abroad due to the desire to cut costs
Israeli fintech unicorn Rapyd is laying off about 30 employees in Israel, Calcalist has learned. The company employs around 800 people in total in Israel. The layoffs will affect various departments in the company, with all the positions of the laid-off employees being moved to Eastern Europe and South America due to the desire to reduce costs.
In August of last year, the company purchased PayU GPO from the Dutch investment company Prosus for $610 million. Following the acquisition, Rapyd has the ability to perform transactions in over 100 countries using more than 1,200 payment methods. It also has permits for financial activity in 41 countries, with a wide range of partners, an integrated global team of approximately 1,700 employees in 22 offices around the world representing more than 50 nationalities, and serving over 250,000 customers worldwide. Prominent enterprises such as Adidas, Google, Ikea, Meta, Netflix, Rappi, and Uber are among its clients.
Rapyd chose not to comment on the news.
