London-based global embedded finance platform Railsbank enables fintechs, supermarkets, telcos, and consumer brands all over the world to build new financial offerings. In a recent development, the company picked up $70 million (nearly £50.5 million) in funding.
Investors galore
The investment round was led by Anthos Capital and attracted a range of investors including Central Capital (VC arm of Indonesia’s largest privately held bank), Cohen and Company (the founder of Bancorp), and Chris Adelsbach’s new fund Outrun Ventures. Also, the existing investors of Railsbank participated in the round.
Railsbank will use the funds to drive international expansion of its various Embedded Finance products – Banking as a Service, Cards as a Service, and Credit as a Service across Europe, Asia Pacific, and North America. Also, the fintech will help its customers remodel and democratise access to the financial services industry.
“Think of Railsbank as being the financial services layer of the Internet,” said Nigel Verdon, CEO and co-founder of Railsbank. “We are transforming the…
