The company provides open banking and embedded finance services and is in talks with investment bank FT Partners to receive the new round of funding.
Founded in 2016, Railsbank raised its first seed round in 2017, followed by a USD 37 million received in 2020 to boost its expansion plans in the US, as well as more than USD 67.5 million in 2021.
Currently, the company is active in Europe, the US, and Asia and, with the next round of funding expected to be completed in the following months, it could reach the Unicorn status along other UK-based successful businesses like Monzo, Wise, and Starling Bank.
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