Railsbank, which aims to be a “utility” on which other companies can build financial services, raises a cool $37 million

new.blicio.us Follow Nov 20, 2020 · 1 min read
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London-based fintech Railsbank, a member of Lhoft, announced on Thursday that it has raised $37 million, including from Luxembourg-based MiddleGame Ventures. Heading for America!

A week ago, financial industry veteran Nigel Verdon, CEO of Railsbank, was put on the grill by Lhoft CEO Nasir Zubairi during meetings with the “Global Leaders”.

Global Leaders Series with Nigel Verdon, CEO of Railsbank

Ten days later, London-based Lhoft member fintech announced on its website a new $37 million round of financing, co-led by Luxembourg-based MiddleGame Ventures and Ventura Capital.

“Over the last four years we have built a winning global team and extended our product to credit and data based information, allowing any fungible product, such as cash, digital assets, kilowatt-hours, gas units, carbon credits, reward points, telecom operator minutes, to be spent as cash,” explains the founder of this fintech, which specializes in open banking and is built directly from an international perspective.

“It is also the latest step in what has been a pivotal year for Railsbank, which saw the signing of two partnerships with Visa and an investment by the payments giant, as well as the acquisition of Wirecard in the United Kingdom,” the press release added.

This will accelerate its activities as a credit card provider in the United States, a $3.8 trillion market.

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