Visa Backs Railsbank

Railsbank offers an open banking and regtech platform and last raised a $10 million Series A in September 2019; the new investment in the company also included Global Brain; while details of the transaction are not known sources have said the investment totaled several million dollars; with the investment from Visa, Railsbank has also signed a 5 year partnership with Visa to deliver Banking as a Service innovation in Southeast Asia; Nigel Verdon, Railsbank co-founder and CEO stated that their investment signals Visa’s desire to be “the most innovative banking platform business” in the region; he added, ”Our API focused platform is the simplest way for any business or brands to quickly conceptualise, build and launch digital finance products that easily incorporate Visa’s product suite and capabilities.” Tech Crunch

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