Open banking platform enabling companies to embed financial services.
HQ: London, UK | Industry: FinTech | Invested: 2021
Railsr is a FinTech company that helps both start-ups and established brands to prototype, launch and scale financial products within their own customer experience. Railsr'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.
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.
Railsr’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 Railsr and Visa to reward conscious consumers for sustainable purchasing choices.