Railz, a Toronto, Canada-based developer of an API that enables financial institutions and fintechs real-time access to their customers’ accounting data, raised $12m in Series A funding.
The round was led by Nyca Partners, with participation from Susa Ventures, Vestigo Ventures, Entrée Capital Global Founders Capital, Plug and Play Ventures, N49P and Hack VC. In conjunction with the funding, Jeremy Solomon, Partner at Nyca Partners, is joining Railz’ board.
The company intends to use the funds to continue to build out their sales and engineering teams.
Led by Sohaib Zahid, CEO, Railz provides a single API that integrates with all major accounting platforms used by small businesses, which enables on-demand access to financial transactions, analytics, insights and reports. This Data-as-a-Service solution provides direct access to small business customers’ accounting data and can be up and running in hours.