Rapyd CEO Arik Shtilman buys into Maccabi Tel Aviv basketball
Fedanco Sports proposes $30 million investment as ownership structure at the club shifts.
Fedanco Sports, which holds a 29% stake in Maccabi Tel Aviv B.C. and is owned by the Federman family, has informed the club’s shareholders that it has reached an agreement to bring new investors into the company.
As part of the deal, high-tech entrepreneur Arik Shtilman, CEO of Rapyd and the main sponsor of Maccabi Tel Aviv, has acquired a 50% stake in Fedanco Sports and will serve as a director on Maccabi’s board on its behalf.
In addition, Fedanco Sports and Shtilman are proposing to invest $30 million in Maccabi Tel Aviv alongside additional investors who are expected to join Fedanco Sports, subject to approval by all of the club’s shareholders. If the investment is approved, the Federman family will reduce its holdings in Fedanco Sports and become a minority shareholder.
The deal is contingent on the condition that Maccabi’s shareholders do not exercise their right to purchase all of Fedanco Sports’ holdings in the club.
Rapyd was founded in 2015 by Arik Shtilman, Arkady Karpman, and Omer Priel. The company develops an international payments platform for businesses and consumers, enabling bank transfers, transfers to digital wallets and banks, and cash payments.
In 2022, amid the boom in the technology sector, Rapyd became Israel’s most valuable privately held tech company following a secondary transaction that valued the company at approximately $15 billion.
