UK-based Railsr (also known as Embedded Finance), a banking-as-a-service platform has raised USD 24 million in funding from D Squared Capital and Moneta Venture Capital. Railsr's total funding now stands at approximately USD 211.8 million.
The company earmarked the funds towards supporting its growth initiatives.
Analyst QuickTake: Today’s funding news comes in a little over six months after the company entered bankruptcy protection in March and revamped its leadership a month later. The company last raised funds in October 2022, which added USD 46 million to the company’s coffers in a mix of Series C equity and debt. This round was reportedly at a discount compared with the nearly USD 1 billion price tag on the company following a round in 2021.
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