Railsbank is now Railsr as it rebrands for an embedded finance future

After raising over $100m from investors since 2016, embedded finance provider Railsbank unveiled a dramatic rebrand at Money 20/20 yesterday.

Now called Railsr, the company said its new name is about going “beyond fintech” and into a world where any company can be part of the “future of consumer finance” by rolling out their own financial services.

To date Railsr has more than 250 B2B customers, including fintechs like Plum, Wirex and Wagestream, however it’s non-financial customers that the company sees the most future growth.

Its new brand comes with a renewed focus on helping industries like sports, retail, travel and eCommerce to embed financial technologies in their offerings.

In retail, for example, Railsr has just launched a rewards offering that sits alongside its financial features for merchants to use, letting them rollout more features with the help of Railsr.

“In our fast-moving world of amazing customer experiences, the finance industry has failed to evolve,” said Railsr CEO and co-founder Nigel Verdon.

“We’ve changed our name to Railsr, and we’re making finance a phenomenal experience.”

Its rebrand is just the latest move in Verdon’s plan to reposition Railsr as the leader in the embedded finance space, a strategy he announced last November.

This February Railsr announced it was working on a $100m funding round which would give the group a valuation of over $1bn, however the funding round has yet to be completed.

The company last raised funding in July 2021 as part of a $70m round led by Anthos Capital and also including Central Capital, Cohen and Company and Outrun Ventures as well as a number of existing investors.