Railsr has a new CEO after emergency sale
Former SETL CEO Philippe Morel is taking over as Railsr CEO.
Fintech veteran and former head of blockchain firm SETL Philippe Morel will take over as Railsr’s new chief executive.
Morel was CEO of SETL for four years until it was acquired recently, and is set to be joined by new CFO Debbie Lotz, a former National Australia Bank and Royal Bank of Scotland exec, on the new C-suite.
Nick Charteris, a former Railsr exec and most recently former general manager at Crypto.com, is also returning to the embedded banking platform as COO.
The firm has been looking for a new CEO for a few months now as it has rapidly unravelled since the start of the year.
According to administrators’ filings, its assets ended up being sold for less than £500,000.
It was bought by Embedded Finance LTD, a legal entity backed by investors Ventura Capital, Moneta VC and D Squared Capital and will be led by the latter.