In recent news, Flutterwave reportedly plans to acquire London-headquartered fintech company Railsr, formerly known as Railsbank.
The global embedded finance experience platform is working to eliminate high costs and operational deficiencies that exist in the financial value chain.
With over $180 million in total findings raised from investors including Ventura Capital, Anthos Capital, CreditEase and several others, Railsr’s partners include Mastercard, Amazon, Salesforce, Visa, Plaid, among others.
In October 2022, the fintech raised $46 million in Series C funding but reportedly wanted a $100 million investment.
The startup has been affected by the current economic downturn which has lingered for some years, causing several companies to lay off a number of staff. Railsr was one of them.
A subsidiary of Railsr, PayrNet, also faced the issue of being sued by a Northern Borealis Cyprus-based freight company for not being able to pay out money from its account.
Fintech giant Flutterwave reportedly proposes to bring the startup back up through its acquisition, positioning it on a promising part of growth scale.
If this is successful, it will be Flutterwave’s second publicly disclosed acquisition since Disha in 2021.
