Lifetime of Achievement: Arik Shtilman
Arik Shtilman, CEO and Co-founder of Rapyd, launched the company after identifying a critical gap in global commerce—the need for a unified platform to manage international payments.
This insight led to the creation of Rapyd, a scalable fintech infrastructure designed to help businesses integrate and streamline their financial operations worldwide. Shtilman explains the origins of his journey, stating: “Before Rapyd, I wasn’t involved in payments or fintech, I was a cloud expert and entrepreneur. After three years in the military, I decided to skip university and start my own company. I and three other co-founders bootstrapped the business and built it into a multimillion-dollar organisation. The company ran for 10 years and we sold it in 2013.”
Under Shtilman’s guidance, Rapyd has made significant strategic acquisitions, such as Neat in Hong Kong and Valitor in Iceland, broadening the company’s global reach and capacity. The acquisition of PayU for US$610m notably expanded Rapyd’s capabilities into over 100 countries and enriched its offerings to include 1,200 payment types.
Reflecting on the company’s growth, Stilman says: “We are continuing to go from strength to strength, despite the current economic conditions. I’m proud of this. While many other fintech organisations had to recede and slow their growth, Rapyd continued to expand globally.”
Challenges and Innovations
Rapyd has encountered numerous challenges, notably in navigating compliance and regulatory matters. “In the early days, while we were building Rapyd, we learned that dealing with compliance and regulation was a bigger hurdle than we’d anticipated,” he recalls.
His solution was to make Rapyd the compliance and regulation problem solver for other companies, simplifying these issues to facilitate easier cross-border operations.
Rapyd has also ventured into supporting fintech startups through its investment arm, which focuses on nurturing early-stage companies from seed to Series B funding.
On the technological front, Rapyd has significantly advanced the digital payments sector by launching end-to-end card acquiring capabilities in Europe and expanding its e-wallet services. These developments provide seamless access to a vast array of payment methods, catering to the diverse needs of global consumers and businesses.
Global Reach and Vision
Rapyd operates as a global payments platform that simplifies how businesses handle financial transactions around the world. It provides a single, unified API that allows companies to incorporate a variety of local payment methods and financial services into their applications.
This approach enables businesses to access a wide range of payment capabilities efficiently, enhancing their ability to quickly adapt to different financial environments.
Shtilman’s achievements and the milestones reached by Rapyd under his guidance reflect a fearless drive and a commitment to excellence.
He takes pride in Rapyd’s resilience and its ability to thrive even under challenging conditions, such as its groundbreaking expansion into the UAE, making Rapyd the first Israeli fintech regulated to operate there: “Opening up our technology hub in Dubai was an incredible feat for our entire team because we were the first Israeli organisation to be regulated in the United Arab Emirates. This was no small feat.
“We launched in Dubai, covering every single billboard on Sheikh Zayed Road – and now everyone in the city knows our name.“
Arik Shtilman’s leadership has driven Rapyd to the forefront of the fintech industry and established a model for dynamic and resilient global business practices in the digital age: “We’re incredibly proud to be building the future of fintech in Dubai and to be opening doors for other organisations, from Israel and beyond, to lay down roots in one of the most influential technology regions in the world.”
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