London-based embedded finance platform Railsr, formerly known as Railsbank, has closed a US$46 million Series C led by Anthos Capital.
The round comprised US$26 million equity, as well as US$20 million debt from Mars Capital. Existing investors Ventura, Outrun Ventures, CreditEase and Moneta participated in the equity round.
Railsr claims to have over 300 customers including HelloCash, Sodexo and Payine. It recently appointed Rick Haythornthwaite as its inaugural chairman of the board and Will Carling OBE as an advisor.
The company’s milestones for the year so far include the launch of its rewards solutions and SEPA Instant implementation, with plans to launch a new insights solution later in the year.
“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,”
said Nigel Verdon, CEO and Co-Founder, Railsr.
“The Railsr partnership has allowed Toqio to deliver cost effective financial services solutions to the market and has been one of the key enablers of our growth,”
said Mike Galvin, Co-Founder and Chief Commercial Officer of Railsr partner Toqio.