Railsbank

Open banking platform enabling companies to embed financial services.

HQ: London, UK | Industry: Fintech | Invested: 2021

About

Railsbank is a FinTech company that helps both start-ups and established brands to prototype, launch and scale financial products within their own customer experience. Railsbank’s platform allows any fungible product, such as money, digital assets, kilowatt-hours, gas units, carbon credits, reward points, telco minutes, etc. to be spent as money.

Market drivers

Embedded finance offers a new, large market opportunity worth over $7 trillion in 2030, twice the combined value of the world’s top 30 banks today. New open banking regulations, in which banks open up their systems and allow third parties to access their data (e.g. Banking-as-a-Service, BaaS) allows both financial and non-financial companies to build their own solutions and services.

Impact

Railsbank’s products make it substantially easier and cheaper for businesses to offer financial products, increasing access for underserved groups and enabling new impact products. For example, next-gen banking and impact app, Novus, has teamed up with Railsbank and Visa to reward conscious consumers for sustainable purchasing choices.

Management