RAILSBANK RAISES USD37 MILLION GROWTH FUNDING CO-LED BY MIDDLEGAME VENTURES AND VENTURA CAPITAL

• Anthos Capital, Global Brain, Clocktower Technology Ventures, Mitsui Fudosan and Firestartr are also participating.

• The new investment will enable Railsbank to continue to be the global leader in Banking as a Service through the launch of Credit Cards as a Service in the USA, continued expansion in SE Asia and strengthening its business in the UK and Europe.

LONDON, SANTA MONICA, Calif. & SINGAPORE, Nov 16 (Bernama-BUSINESS WIRE) -- Railsbank, the leading global Banking-as-a-Service (BaaS) platform, has raised USD37 million as part of continued equity funding to support its global growth and product expansion. MiddleGame Ventures and Ventura Capital, both existing investors in Railsbank, co-led the round, with Anthos Capital, Global Brain, Clocktower Technology Ventures, Mitsui Fudosan and Firestartr also participating.

The new investment will enable Railsbank to continue to expand its global footprint, further strengthen its core product proposition, launch Credit Cards as a Service and help increase its lead in the embedded finance market as the world’s pre-eminent BaaS platform, enabling start-ups and established brands to prototype, launch and scale financial products within their own customer experience.

Nigel Verdon, co-founder and CEO of Railsbank, said: “We are thrilled to have the support of world-class investors who bring a highly strategic network to help us continue with the vision, with zero pivots, that Clive, my co-founder, and I started with in 2016.

“Over the past four years, we have built a global winning team and expanded our product into credit and data-driven insights, enabling any fungible product, such as money, digital assets, kilowatt hours, gas units, carbon credits, reward points, telco minutes, to be spent as money.”

It is also the latest milestone in what has been a landmark year for Railsbank that has seen the signing of two partnerships with Visa and an investment from the payments giant, as well as the acquisition of Wirecard in the UK.


http://mrem.bernama.com/viewsm.php?idm=38693