Railsbank, the Banking-as-a-Service, raises $37M in growth funding
Railsbank, the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding, TechCrunch reports.
Leading the round is MiddleGame Ventures and Ventura Capital, which are both existing investors in Railsbank . Also participating is Anthos Capital, Global Brain, Clocktower Technology Ventures, Moneta VC, Mitsui Fudosan and Firestartr.
Nigel Verdon, co-founder and CEO of Railsbank, tells TechCrunch the injection of capital will be used to continue expanding the fintech’s global footprint and for further product development. This will include the launch of “credit cards as a service” in the U.S. and expand its product in APAC, including the Philippines, Indonesia, Malaysia, Australia and Japan. It will also double down on existing markets such as the U.K./Europe.