The seed round was co-led by CRV and Earlybird to support team expansion and new banking integrations.
"We literally watched them use a spreadsheet with one hand to count payments and cash with a bank file on the other hand to manually send money to their customers. It was both inefficient and antiquated. Once we saw the problem, we knew there had to be a better way and became determined to create it."
The British fintech raised the capital to support new market expansion and team growth.
"Access to a business bank account should be a right, not a privilege, and we are developing serious technology to serve European and UK SMEs to make this right accessible for everyone"
The Series C financing comprised £26m in equity led by Anthos Capital and £20m in debt from Mars Capital.
"I am absolutely delighted that less than four months after Railsbank evolved to become Railsr, we have achieved another milestone and closed our Series C, a significant step on our route to profitability."
The investment round led by SuperSeed will support platform scaling and engineering talent acquisition.
"We are delighted to have the financing in place to grow our company and to support client banks until go-live and beyond. We look forward to working with more clients and partners in this next phase of Finteum’s journey."