A series of investors and shareholders are currently contending to acquire Railsr following the firm’s impactation of inflationary pressures.
The British fintech firm has been on an acquisition trail after it was negatively impacted, following its exposure to German payments company Wirecard which filed for insolvency in 2020.
Ever since, the fintech firm has been exploring sales after it concluded a heavily discounted fundraising amid growing pressure.
A report last year revealed that the firm was working with Bankers at FT partners on a range of strategic options, including an outright sale.
Currently, the firm is in talks with suitors about a sale that would take place at a steep discount. African Fintech giant Flutterwave is among those currently seeking to acquire the company.
Also, sources disclose that several other Railsr investors are seeking to acquire the company. An insider at the company disclosed that there is strong competition for the firm’s assets.
Railsr formerly known as Railsbank was founded in London in 2016 by Nigel Verdon and Clive Mitchell and has since expanded across Europe, Australia, SE Asia, and the U.S.
Investors King understands that since its launch in 2016, the Fintech firm has raised over $100m in equity financing and has the backing of leading investors, including Visa.
Additionally, the company is currently a global platform servicing global and regional customers, with offices in the UK (HQ), Europe, US and APAC.
Railsr has been described as the first platform that has gone beyond fintech to enable brands or companies, for example, travel, e-commerce, sports, and retail, to use embedded finance experiences as a strategic tool for customer relationships, revenue, rewards, and relevance.
It also has more than 250 business-to-business (B2B) customers and 5.5 million accounts, with current customers including the likes of Foris, Paceline, Plum, Wirex, and Wagestream. Railsr strategic partner also include Mastercard, Visa, AWS, Plaid, and Salesforce