A former star of London FinTech once touted as a potential unicorn before being rescued from administration has rebranded following a merger last year.
Railsr – once known as Railsbank – had developed APIs which make it easy for developers to integrate banking and card functionality into their products and services.聽
It was acquired for just 拢500,000 by a consortium led by D Squared Capital in a pre-pack administration deal in 2024, a far cry from the $1 billion valuation it once sought in funding negotiations: in October 2022 the company had raised $46 million at a $250m valuation.
The company, which subsequently raised 拢20m to return to growth, then merged with private equity-owned Equals Money last year – with the combined company co-branded under both names.
Now, after a year of significant double-digit growth under CEO Ian Strafford-Taylor which saw it surpass 拢58bn in annual transaction volume, it has rebranded to Equals.
Equals offers businesses a single connection to embedded payments products which can then power their payments, accounts, cards and FX (foreign exchange), as well as building and operating embedded payment services for their customers.
鈥淥ur clients are navigating a challenging financial landscape, operating across multiple markets, currencies, and regulatory environments,鈥� said Strafford-Taylor.聽
鈥淭hey need a technology partner who cares when complexity arises. The problems we solve are not isolated – they are interconnected, compounding, and often invisible until they become critical.
鈥淓quals is committed to solving clients鈥� money movement problems – turning complexity into clarity.鈥�
Justin Hannemann, senior vice president of marketing, said: 鈥淓quals鈥� original mission to make money movement simple remains our absolute focus, as we continue to deliver embedded payments solutions for exceptional global businesses.聽
鈥淏ecoming a united brand helps us to deliver on that commitment and bring the best of our rich heritage into a new, modern chapter for Equals.鈥�
Gradient Labs, founded by ex-Monzo AI team, doubles Series A to 拢20m