Schroder British Opportunities Trust PLC - London-based public and private investment trust focused on small to mid-cap UK companies - Confirms private equity investee Rapyd Financial Network Ltd has acquired PayU Global Payment Org from technology investor Prosus NV for USD610 million. Deal does not include PayU's operations in India, Turkey or Southeast Asia. Schroder says the purchase "further solidifies Rapyd's position as a dominant global fintech leader continuing the company's trajectory towards an [initial public offering]." Schroder first invested in Rapyd in early 2021 as part of Rapyd's USD300 million Series D financing round.
Schroder British Co-Portfolio Managers Tim Creed and Pav Sriharan comment: "We are delighted with the progress that Rapyd has made since our initial investment and are pleased to see the announcement of this acquisition, which will continue to drive the company's strong global expansion and enhance Rapyd's payment capabilities."
Current stock price: 73.00 pence, up 2.8% in London on Friday
12-month change: down 2.7%
By Emma Curzon, Alliance News reporter
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Schroder Brit (SBO)