£20m funding may give Railsr a new lease on life

<img width="562" height="339" src="https://www.leaprate.com/wp-content/uploads/2016/11/Fintech-money-banking.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2016/11/Fintech-money-banking.jpg 730w, https://www.leaprate.com/wp-content/uploads/2016/11/Fintech-money-banking-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2016/11/Fintech-money-banking-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2016/11/Fintech-money-banking-88×53.jpg 88w" sizes="(max-width: 562px) 100vw, 562px" /><p>Running the report, Sky News Business indicated that Railsr, the trading name of <a href="https://www.leaprate.com/forex/brokers/etoro-and-openpayd-roll-out-embedded-finance-proposition-in-europe/" target="_blank" rel="noopener">Embedded Finance,</a> will soon announce that it made a deal with investors to raise £19.8m. The money mainly comes from existing investors, including well-knowns such as D Squared Capital and Moneta Venture Capital.</p>
<p>Those rooting for the success of the company regard this as a vote of confidence in Railsr’s financial future. The funds, which in part will be convertible loans, resuscitate the fintech with much-needed capital after undergoing a pre-pack administration to survive.</p>
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<p>Specialising in embedded digital finance products and services, the company came up against significant regulatory issues after actively driving over-expansion. Since the insolvency process, it has been staggering to get back on its feet.</p>
<p>In April, Railsr appointed Phillippe Morel as its chief executive officer (CEO) in a bid to salvage the company. He joined other new appointments, including Debbie Lotz as chief financial officer (CFO), and Nick Charteris as chief operating officer (COO).</p>
<p>Earlier it also appointed seasoned fintech expert, Rick Haythornthwaite, as chair of the board. With the stated funding and a strong top leadership echelon, Railsr does not seem to be out of the game just yet.</p>
<div><img aria-describedby="caption-attachment-450917" decoding="async" class="wp-image-450917" src="https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-20m-funding-may-give-Railsr-a-new-lease-on-life-5405386378-700×699.jpg" alt="" width="98" height="98" srcset="https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-20m-funding-may-give-Railsr-a-new-lease-on-life-5405386378-700×699.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-20m-funding-may-give-Railsr-a-new-lease-on-life-5405386378-250×250.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-20m-funding-may-give-Railsr-a-new-lease-on-life-5405386378-150×150.jpg 150w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-20m-funding-may-give-Railsr-a-new-lease-on-life-5405386378-768×767.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-20m-funding-may-give-Railsr-a-new-lease-on-life-5405386378-120×120.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-20m-funding-may-give-Railsr-a-new-lease-on-life-5405386378-245×245.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-20m-funding-may-give-Railsr-a-new-lease-on-life-5405386378-500×500.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/10/FIN-LP-20m-funding-may-give-Railsr-a-new-lease-on-life-5405386378.jpg 800w" sizes="(max-width: 98px) 100vw, 98px" /><p>Rick Haythornthwaite Source: LinkedIn</p></div>
<p>Haythornthwaite echoed the company’s commitment to survival in his comments about the new appointments. He said:</p>
<blockquote><p>This is a pivotal moment for Railsr and we are starting a new phase on the front foot. This triumvirate of executive appointments bring deep experience and renewed energy to rebuild momentum, drive change and return Railsr to growth.</p></blockquote>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/financial-services/fines/20m-funding-may-give-railsr-a-new-lease-on-life/">£20m funding may give Railsr a new lease on life</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>