Rapyd, #Israel’s $10 Billion Answer to Stripe, Wants to Crack U.S. Market - Bloomberg

Rapyd, Israel’s $10 Billion Answer to Stripe, Wants to Crack U.S. Market - Bloomberg

Israel’s most valuable private technology company is in talks to buy a U.S.-based business to establish a foothold in the world’s biggest economy ahead of an initial public offering.

Breaking into the U.S. is part of plans by payments startup Rapyd, last valued at $10 billion in August, to increase its attractiveness to American investors for a potential listing in two to three years, according to Chief Executive Officer Arik Shtilman.

It’s a move that would put the company up against the likes of Stripe Inc., the digital payments company worth $95 billion and among the most valuable startups in the world. Rapyd wants the U.S. to account for 20% of its revenue to address the risk that investors will have a home bias when looking to participate in the company’s eventual share sale, Shtilman said.

“I don’t want to explain to a pension fund looking to invest in my IPO what I’m doing in Brazil,” Shtilman, 42, said in an interview. “Just explaining to Americans where Brazil is on the map is complicated enough.”