Railsbank, founded in 2015 and based in London, is an open banking API and banking-as-a-service platform that provides regulated and unregulated businesses with access to global banking. The platform provides financial technology companies with a range of wholesale banking services, including IBAN, money receiving, money sending, money conversion, direct debit, card issuing and credit management via API.
This company also enables marketers, product managers and developers to take their financial product prototype, launch and scale their vision using its open finance platform, financial operations, regulatory licensing and extensive set of APIs.
Railsbank has raised $37 million as part of the funding continued equity investment to support its global growth and product expansion. MiddleGame Ventures and Ventura Capital, both existing investors in Railsbank, co-led the round, with Anthos Capital, Global Brain, Clocktower Technology Ventures, Moneta VC, Mitsui Fudosan and Firestartr also participating.
The new investment is made with the aim of further expanding Railsbank's global presence, further strengthening its core product proposition, launching credit cards as a service and helping to increase its integrated financial market leadership as the world's pre-eminent BaaS platform, enabling established companies and brands to prototype, launch and scale financial products within their own customer experience.