British fintech Railsbank is eyeing up ‘unicorn’ status as it looks to raise $100m funding that would value the firm at over $1bn, according to news reports.
Railsbank, which provides digital banking services to financial service and consumer companies, has called in fintech-focused investment bank FT partners to work on the $100m round, Sky News’ Mark Kleinman first reported.
The round would value Railsbank at over $1bn and would make it the latest British unicorn, with sources telling Sky News that the round was expected to close in the coming months.
It follows a $70m funding injection last year from backers including Anthos Capital and Outrun Ventures, which bosses had suggested had left the firm with a valuation of close to $1bn.
Founded in 2016 by fintech veterans Nigel Verdon and Clive Mitchell, Railsbank has recently announced a ramping up of its presence in APAC with new hubs in Singapore, Vietnam, Malaysia, and Australia.
The firm now has a presence across Europe APAC and the US and has grown to employ over 450 people across the regions.
Railsbank and FT Partners declined to comment to Sky News.
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
