Sky News has learnt that Railsr, formerly known as Railsbank, is working with bankers at FT Partners on a range of strategic options, including an outright sale
A prominent British fintech is exploring a sale just weeks after concluding a heavily discounted fundraising amid growing pressure on technology companies to consolidate.
.Last month, Railsr announced the completion of a $46m Series C funding round, although it did not disclose that this took place at a valuation of about $250m - well below that of an earlier fundraising. Railsr is a specialist in so-called embedded finance, and snapped up assets from the collapsed German company Wirecard.
It secured a coup earlier this year when it named Rick Haythornthwaite, the former chairman of MasterCard and Centrica, as its chairman. In a statement on Tuesday, Nigel Verdon, Railsr co-founder and chief executive, said:"The market conditions over the past 12 months are driving market consolidation, as it did in the past when multiple companies came together to build what is today called PayPal.
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