Arik Shtilman (Rapyd)
Overview
Arik Shtilman is an Israeli entrepreneur best known as the co-founder and CEO of Rapyd, a global fintech platform. Shtilman founded Rapyd in 2016, with a vision to create a comprehensive fintech-as-a-service system that simplifies and enhances financial services delivery worldwide. His leadership has been instrumental in scaling the company into a robust financial infrastructure network that supports various payment and fintech applications globally. The company has been involved in significant acquisitions like PayU GPO, broadening its scope in over 100 countries.
Recent Developments
Arik Shtilman and Rapyd have been active in the fintech sector, especially with strategic expansions and adaptations to market conditions:
- February 2025: Rapyd is currently in discussions to raise $300 million at a valuation of $3.5 billion, down from its peak valuation of $9 billion in 2021. The company plans to use the funds to acquire a payment processing startup.
- Sources: Bloomberg, TechCrunch
- 2024: Rapyd achieved its first profitable quarter in Q3 2024 following the acquisition of PayU GPO for $610 million. This acquisition expanded its reach into Central and Eastern Europe and Latin America, reinforcing its mission to become the world's largest fintech platform.
- Sources: FXC Intelligence
- Mid-2024: Rapyd launched the Rapyd Payment Partner Programme, designed to enhance its revenue contribution from referral partners. This move is part of a broader strategy to diversify and increase company scale.
- Sources: FinTech Magazine
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Arik Shtilman |
| Born | Not publicly available |
| Nationality | Israeli |
| Occupation | Entrepreneur, CEO |
| Known For | Co-founder and CEO of Rapyd |
| Net Worth | Not publicly disclosed |
| Education | Not specified; did not attend university |
Early Life and Education
Arik Shtilman's entry into the business world was influenced by his decision to forgo traditional education paths. After completing his mandatory military service in Israel, where he gained valuable life skills and resilience, Shtilman decided not to attend university. Instead, he ventured directly into entrepreneurship. He co-founded a business leveraging his expertise in cloud technology, which he operated successfully for a decade before selling it in 2013.
Career and Notable Achievements
Arik Shtilman’s career is marked by pioneering efforts in the fintech space:
- IT Navigator (2004-2013): Founded and led IT Navigator, a cloud-based management company, that was acquired by Avaya in 2013.
- Rapyd (2016-present): Co-founded Rapyd to provide a fintech-as-a-service platform, enabling businesses to deploy financial services applications efficiently across borders.
- Notable Acquisitions: Under his leadership, Rapyd acquired Neat, Valitor, and significantly, PayU GPO, which bolstered Rapyd’s strategic position in fintech significantly.
Current Work and Impact
Currently, Arik Shtilman continues to lead Rapyd as it navigates various challenges in the fintech landscape, including regulatory changes and market volatility. Despite recent valuation adjustments, Rapyd remains a significant player in the global fintech industry, aiming for continued expansion and profitability. Shtilman’s vision for Rapyd includes leveraging AI and machine learning to optimize financial transactions and compliance solutions, further solidifying the company's position as a fintech leader.
Conclusion
Arik Shtilman's journey from a cloud technology entrepreneur to a fintech innovator highlights significant developments in global financial services. Through Rapyd, Shtilman has contributed to transforming how businesses integrate and manage financial services. As Rapyd continues to expand its services and streamline operations globally, it maintains its status as a prominent entity in the evolving fintech landscape, under Shtilman's leadership.