Following this announcement, the UK-based financial technology company made the approach to merge with London-listed payments firm Equals Group in order to combine their suite of services and expertise.
According to Sky News, further details on when the approach was made, and whether there were any active discussions taking place between Railsr and Equals Group were not made. In addition, Equals Group mentioned that it remained in an offer period for the time, while also being expected to extend a deadline for formal offers until the middle of April 2024.
Railsr represents a company that provides Banking-as-a-Service (BaaS) and Cards-as-a-Service products to its customers and clients, while also focusing on delivering multiple solutions and tools. These include services such as card issuing and virtual wallets, both of which have seen an increase in demand amid the overall development in the digital finance market. In addition, its platform was designed in order to provide fintechs with a new approach to optimising their Embedded Finance experiences, as well as utilising it for customer engagement, data, revenue, and rewards.
Equals Group was developed to design and sell scalable, secure, and efficient payment platforms in order to give organisations and companies the possibility to move and easily manage their money flows through the use of its payments and card tools. The firm is a public limited liability company that is incorporated in England, Wales, and domiciled in the UK. The enterprises’ core brands include Equals Money, Equals Money Solutions, CardOneMoney, Equals Connect, and FairFX.
The merger process will focus on remaining compliant with the regulatory requirements and laws of the local industry, while also prioritising the process of meeting the needs, preferences, and demands of customers and clients in an ever-evolving market. Currently, it is unclear whether the two firms are engaging in any active discussion of the offer.
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