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 Singapore Life, Firestartr, Creditease, Clocktower Technology Ventures and Moneta VC.
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
Funding type
Funding round amount (USD)
Funding round date
Investment
Railsbank funding round, September 2019
10,000,000
September 2019
2 Results
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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

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

RailsBank Explainer Video

January 28 2019

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Victor Chatenay
December 8, 2020
Business Insider
Railsbank is launching two new products to capitalize on nonfinancial firms' demand for integrating financial products.
Robin Wauters
December 3, 2020
Tech.eu
Pockit, the 6-year-old London-based fintech business that focuses on providing financial services primarily to customers who are typically excluded or at least underserved by high street banks, has secured a £15 million Series B funding round from existing and new investors. That's not the only thing the startup is announcing today: it has also partnered [...]
Samantha Hurst
November 13, 2020
Crowdfund Insider
Click HERE to find out ⭐ Railsbank Scores $37 Million in Growth Funding Investment Co-Led By MiddleGame Ventures & Ventura Capital. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Crunchbase News
November 12, 2020
Crunchbase News
Crunchbase News' top picks of the news to stay current in the VC and startup world.
FinSMEs
November 12, 2020
FinSMEs
About | Advertise | Contact | Disclaimer | News | The Daily Deal Newsletter FinSMEs.com by FinSMEs is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Steve O'Hear
November 12, 2020
TechCrunch
Railsbank, the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding. 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 me [...]
Steve O'Hear
November 12, 2020
TechCrunch
Railsbank, the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding. 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 me [...]
Ingrid Lunden
August 28, 2020
TechCrunch
Looks like another chapter is opening up for Wirecard, the disgraced fintech out of Germany that collapsed into insolvency earlier this year after facing a huge accounting scandal and subsequently failing to make payments on $1.5 billion in loans coming due. Railsbank, the UK startup backed by Visa and others that offers a range of [...]
Samantha Hurst
July 15, 2020
Crowdfund Insider
Click HERE to find out ⭐ Railsbank Announces New Partnership With Portugal's The Fintech House. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
JD Alois
July 13, 2020
Crowdfund Insider
Click HERE to find out ⭐ Railsbank CEO Calls on Regulators to Step Up Safeguarding of e-Money Firms Following Wirecard Collapse. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Omar Faridi
June 30, 2020
Crowdfund Insider
Open Banking and Regtech Firm Railsbank has reportedy gained Hong Kong based Fintech firm Statrys as a new client.
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

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