Railsbank raises £8.1m in Series A funding led by Moneta Capital to fuel global expansion
The open banking platform has secured £8.1m in Series A funding led by Moneta Capital to expand its global operations.
Railsbank operates a global embedded finance platform providing banking, cards and credit as a service products. The business connects directly into the financial system to help brands build custom financial services.
Railsbank has secured £8.1m in a Series A funding round led by Moneta Capital. The investment will support the company as it expands its global capabilities into the United States, Australia, and Southeast Asia. Additional participation in the round came from CreditEase, Clocktower Technology Ventures, Singapore Life, and existing backer Firestartr.
The company has also opened an office in Singapore to serve as a gateway for the region. Railsbank intends to use the capital to enhance its core product proposition, moving from banking, payments, and cards into new financial services such as insurance and credit.
From the founder
"We are delighted to welcome our new investors who join our amazingly supportive investor list. Railsbank is at a key stage of its development and we are moving into a period of sustained expansion. Our industry leading products and highly skilled management team are being leveraged across a growing customer base, and we are continually being presented with opportunities on a global scale."
Nigel Verdon
CEO and co-founder at Railsbank
Investor perspective
"We share Railsbank’s vision for the democratization of the financial services industry via API’s. While API democratization has turned over industries such as payments, telephony and travel, it has not taken over the wider financial services industry, which is still painful for both developers and consumers. I am thrilled to invest in Railsbank as it transforms financial services and unleashes a massive new generation of innovation."
Meirav Har Noy
General Partner, Moneta Capital
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Grow the team
Investors
Meirav Har Noy
Moneta Capital
Anju Patwardhan
CreditEase
Ben Savage
Clocktower Technology Ventures
Walter de Oude
Singapore Life
Firestartr
