Railsr, a Banking-as-a-Service (BaaS) infrastructure provider, announced that it has been acquired by a shareholder consortium, Embedded Finance Ltd, which included former Railsr owners D Squared Capital, Moneta VC, and Venture Capital. 

As a result of the deal, Railsr will go into administration and continue as a going concern while it restructures. The company noted that its Railsr services will not be interrupted and two other operations connected to Railsr, Payrnet Limited and UAB Payrnet, will not be in administration.  

Analyst QuickTake: Earlier this year, leading African payment infrastructure provider Flutterwave also entered the running to acquire Railsr, presumably to expand its operations into Europe. This could have supported Flutterwave’s recent global expansion strategies, which also included expanding to North Africa last month , with PSP and payments facilitator licenses in Egypt.