RailsBank

RailsBank

Railsbank is a London-based open-API banking and compliance platform that gives regulated and un-regulated companies access to global bankings.

Railsbank, an open banking and compliance platform, was founded by Nigel Verdon and Clive Mitchell in 2016. They offer an API based financial innovation and growth platform designed for developers and product managers to build their financial services business on.

Railsbank positions its open API as a utility on which financial companies can build and sell various financial services, features or products. They offer a complete financial services backend which includes platform, connectivity, operations, scheme memberships, regulation and compliance.

Funding

Seed

Railsbank raised $1.2 million in a Seed round held in August of 2017. Firestartr led the round which included Kima Ventures and angels Peter Jackson, Tim Levene and Phillip Riese.

Grant

In July 2018, won a €100,000 investment from MiddleGame Ventures. They were one of two companies voted "most ready for investment" on the final day of the FinTech Europe 2018 program.

Series A

In September 2019, Railsbank raised $10 million for their Series A. Moneta Capital led the round with participation from CreditEase, Clocktower Technology Ventures Singapore Life and Firestartr. The rounds funding was committed towards expansion beyond Europe, with Railsbank looking at the U.S., Australia and South East Asia.

Timeline

September 4, 2019

Railsbank Technology Ltd. ("Railsbank"), a leading global open banking and RegTech platform, announces that it has raised $10m in a Series A funding round, led by Moneta Capital and joined by CreditEase, Clocktower Technology Ventures, Singapore Life and existing investors including Firestartr.

September 2019

RailsBank raises a $10,000,000 series A round from Moneta VC, Creditease, Firestartr, Singapore Life and Clocktower Technology Ventures.

January 29, 2019

Cross River and Railsbank Announce Partnership to Enable Global Market Access for Fintech Companies by Providing Seamless, Cross-Border Banking and Payment Solutions

based open banking and RegTech technology services platform, today announced that they have entered into a partnership arrangement that will provide Railsbank the opportunity to offer a variety of API-powered, banking and payment processing services across the U.S.

Funding rounds

Funding round
Description
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Investment
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People

Name
Role
LinkedIn

Anju Patwardhan

Partner, CreditEase, Railsbank Board Member

Brad van Leeuwan

Marketing & Partnerships

Chipper Boulas

Founder, Firestartr, Railsbank Board Member

Clive Mitchell

Chief of Staff

James Shanahan

Chief of Staff (SE Asia)

Meirav Harnoy

Partnery, Moneta VC, Railsbank Board Member

Nick Charteris

Operations Director

Ren Yo Hooi

Product Director

Steve Couttie

Chief Financial Officer

Walter de Oude

CEO SingLife, Railsbank Board Member

Further reading

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Author
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Date
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Documentaries, videos and podcasts

Title
Date
Link

RailsBank Explainer Video

January 28 2019

Companies

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CEO
Location
Products/Services
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News

Title
Author
Date
Publisher
Description
Steve O'Hear
April 8, 2020
TechCrunch
Railsbank, the open banking and compliance platform, has picked up further investment, following the company's $10 million Series A in September 2019. This time backing comes from Visa -- a strategic investment, if you will -- along with Global Brain, a venture capital firm based in Tokyo, Japan. The exact amount isn't being disclosed, though [...]

References