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Railsbank Raises $37 Million to Fund Global Growth

Railsbank, a leading global Banking-as-a-Service (BaaS) platform, has raised $37 million as part of continued equity funding to support its global growth and product expansion. MiddleGame Ventures and Ventura Capital, both existing investors in Railsbank, co-led the round, with Anthos Capital, Global Brain, Clocktower Technology Ventures, Moneta VC, Mitsui Fudosan and Firestartr also participating.

The new investment will enable Railsbank to continue to expand its global footprint, further strengthen its core product proposition, launch Credit Cards as a Service and help increase its lead in the embedded finance market as the world’s pre-eminent BaaS platform, enabling start-ups and established brands to prototype, launch and scale financial products within their own customer experience.

Nigel Verdon, co-founder and CEO of Railsbank, said: “We are thrilled to have the support of world-class investors who bring a highly strategic network to help us continue with the vision (with zero pivots) that Clive [my co-founder] and I started with in 2016.

“Over the past four years, we have built a global winning team and expanded our product into credit and data-driven insights, enabling any fungible product, such as money, digital assets, kilowatt hours, gas units, carbon credits, reward points, telco minutes, to be spent as money.”

It is also the latest milestone in what has been a landmark year for Railsbank that has seen the signing of two partnerships with Visa and an investment from the payments giant, as well as the acquisition of Wirecard in the UK.

Mo El Husseiny, Ventura Capital, said: “Ventura Capital is delighted to be the largest investor in this investment round, a commitment made on the strength of Railsbank’s clear technology leadership in the space, and Nigel and the executive team’s deep experience of the traditional global financial system. We expect Railsbank to be the category winner in Banking as a Service due to their beautifully scalable global business model and the winning client interviews we have initiated. We are absolutely excited to embark on the next phase of Railsbank’s growth and will remain a supportive shareholder for future capitalisation opportunities.”

The latest round adds to the previous Series A funding round of $10 million in September 2019 from Moneta Capital, which led the round alongside CreditEase, Clocktower Technology Ventures, Singapore Life and a number of existing investors such as Firestartr.

Railsbank has also recently announced it will offer its complete platform, including BaaS, Cards as a Service, Compliance as a Service and the first-of-its-kind Credit as a Service to fintechs, enterprise companies and consumer brands in the USA.

These innovative products will be the backbone of Railsbank’s launch of Credit Cards as a Service in the USA to encourage increased competition and innovation within the country’s USD4 trillion credit card market.

Railsbank is headquartered in London and has offices in Santa Monica, Singapore, Vilnius, Munich, Newcastle, the Philippines, Malaysia, Vietnam and Sri Lanka.


  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.

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