Railsbank Raises USD$70M in Funding

Railsbank, a London, UK-based embedded finance platform provider, raised USD$70m in its latest funding round.

The round was led by Anthos Capital with participation from 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 and existing investors.

The company will use the funds to further expand 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.

Founded in 2016 by fintech veterans Nigel Verdon (CEO) and Clive Mitchell (Chief Information Officer), Railsbank provides a SaaS Embedded Finance platform used by customers such as fintechs, telcos, supermarkets and consumer brands to prototype, build and scale financial products for their own end users, including apps that help manage and distribute money in real-time.