News

Railsbank raises USD 37 mln growth funding

Thursday 12 November 2020 13:30 CET | News

Railsbank, the global Banking-as-a-Service (BaaS) platform, has raised USD 37 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, Moneta VC, 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, enabling startups and established brands to prototype, launch and scale financial products within their own customer experience.

The latest round adds to the previous Series A funding round of USD10 million in September 2019 from Moneta Capital, which led the round alongside CreditEase, Clocktower Technology Ventures, Singapore Life and a number of existing investors such as Firestartr.

Railsbank has also recently announced it will offer its complete platform, including BaaS, Cards as a Service, Compliance as a Service and the Credit as a Service to fintechs, enterprise companies and consumer brands in the USA.

These products will be the backbone of Railsbank’s launch of Credit Cards as a Service in the US to encourage increased competition and innovation within the country’s USD 4 trillion credit card market.

 


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Railsbank, funding, banking-as-a-service, expansion, embedded finance
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United States
This article is part of category

Banking & Fintech