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Payrails raises $14.4m

Payrails raises $14.4m

Payrails has raised $14.4 million in a seed extension round led by EQT Ventures to scale its financial operations platform.

General Catalyst, Andreessen Horowitz and HV Capital joined the round for Berlin headquartered Payrails.

Payments continue to be a fragmented area for platforms, marketplaces and any large, fast-growing companies that conduct business across markets or with multiple parties in payment flows.

Payrails' answer is an enterprise grade operating system that can accommodate a multi processor setup for payments, split and route payments across geographies and perform other complex internal money movement tasks.

The firm will use the capital to accelerate its product roadmap and increase go-to-market capacity.

Orkhan Abdullayev, CEO, Payrails, says: "As payment processing gets more complex once companies scale, the need to keep advancing the payment stack and leverage multiple processors to improve performance becomes the industry standard.

"Leading companies understand the strategic importance of optimising payments and are searching for flexible solutions that can adapt to their needs."

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