Payrails, a Berlin-based FinTech firm providing a robust payment operating system for global platforms, announced today its successful fund-raising effort.
The firm, which was founded by the trio who built the FinTech arm of the world’s largest delivery platform, Delivery Hero, has raised $14.4m in a seed extension round.
The funding round was led by EQT Ventures, with participation from new investor General Catalyst and existing investors Andreessen Horowitz and HV Capital. The significant financial backing indicates trust in Payrails’ product that’s currently being adopted by sizeable international firms operating across different industries.
Payrails has developed an end-to-end operating system that streamlines the entire payment processing value chain. Recognising a market gap for a complete solution for high-growth firms, Payrails caters to businesses that require an enterprise-grade operating system to manage payments. The system can facilitate multi-processor setup for payments, route payments across different regions, and perform complex internal money movement tasks.
The fresh capital injection is intended to accelerate Payrails’ product roadmap and increase its go-to-market capacity. Early adopters of Payrails’ solution are reportedly experiencing significant business benefits, such as cost savings and higher authorisation rates, by improving the checkout experience using local payment methods and dynamically routing transactions to various processors across over 200 countries.
In addition to its operational focus, Payrails’ founders, Orkhan Abdullayev, Emre Talay, and Nicolas Thouzeau, also boast a strong track record in the FinTech sector. With their previous venture, the trio built the FinTech arm of Delivery Hero, demonstrating their experience and vision for the market.
Payrails CEO and co-founder Orkhan Abdullayev said, “With EQT Ventures, General Catalyst, Andreessen Horowitz and HV Capital, we have found strong partners with significant experience in FinTech and payment systems who believe in our long-term vision of enabling large-scale global platforms to build end-to-end payment solutions as we develop the next-generation payment operating system.”
This funding round brings Payrails’ total investment to date to $20.8m, with notable new and existing investors including EQT Ventures, General Catalyst, Andreessen Horowitz, and HV Capital, marking continued confidence in the company’s vision and strategy amid a challenging market.
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