Railsbank has raised $70mn in new equity funding funding.
In Brief:
Railsbank currently builds APIs for banking and payments.
They are used by a range of banks and FinTechs especially since many companies moved from Wirecard to Railsbank last year.
The funding will be used to continue international growth and add new features.
What does this mean?
The aim is to use APIs to provide full financial services as a service to other businesses so they can partner with Railsbank while concentrating on other areas of their offering.
CEO Nigel Verdon told TechCrunch that while he would not reveal the valuation of Railsbank, it is “near-unicorn”.
