Railz

Overview
News
FinTech Infrastructure?
Product stageSegments
Early
?
Investment and financial management services
?

Railz provides accounting data-as-a-service through an API platform that can be used by FinTechs, banks, and wealth management firms to access their SME clients’ accounting data with solutions spanning lending, audit, cashflow, and trade finance. The platform can be integrated with a range of popular accounting platforms used by SMEs such as Freshbooks, Xero, Sage, and Wave.

In addition to aggregating data, the Canadian firm also offers its users analytics, insights, and reports, based on the accounting data of their SME customers. Railz claims that its platform decreases data collection costs by about 53%, loan related decision-making time by 20x, and reduces fraud by around 75% since data is sourced directly from accounting sources.

In May 2021, the company raised USD 12 million in a Series A funding round led by Nyca Partners to invest in expanding its sales and engineering teams.


HQ location:
180 John Street Toronto ON CAN
Founded year:
2020
Employees:
11-50
IPO status:
Private
Total funding:
USD 15.1 mn
Last Funding:
-
Last valuation:
-
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Company profile
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