Embedded finance platform Railsbank is on the verge of hitting unicorn status thanks to an upcoming investment round, according to Sky News.
The UK firm has called in FT Partners to work on the round, which is likely to be worth around $100 million when it closes in the coming months, says Sky, citing sources.
Railsbank, which is led by Currencycloud founder Nigel Verdon, closed a $70 million round last summer.
The company's products have been developed out of its zero-legacy core finance platform and include banking-as-a-service and cards-as-a-service.
Available via simple APIs, the platform provides a seamless entry point into money-moving financial services for fintechs, telcos, supermarkets and consumer brands.