An open banking and compliance platform, Railsback, has formulated a plan on a further investment after the 10-million-dollar series A in the last September of 2019.
This time their new investor is Visa. It is a strategic investment along with another company, Global Brain. Global Brain is a venture capital firm which is based in Tokyo, Japan. Though the specific amount is not declared, according to various sources, the amount would be around “seven million” USD.
Railsback is going to announce that the company has bonded in a 5-year partnership with Visa. Together they will deliver innovation in Banking as a Service in Southeast Asia. This particular area has recently become a Visa member.
Now that Railsbank has become a principal Visa member, it has now access partner network. Experts, technologies. This will enable customers to quickly and elegantly launch Visa products throughout all Asia and beyond. This partnership indicates fintech’s aim to be the great and helpful to starts on the journey of being the most innovative banking platform.
Naoki Kamimaeda, a partner and Europe office executive of Global Brain, has told me that there are a huge potential underlying Railsbank’s vision and other open banking platforms. In Asia, corporates are more interested in getting banking services. Railsback will provide them this service. Japan is already appreciating Railsbank’s vision and giving active support to the venture.
Currently, Railsbank’s headquarter is in London. It also has other important offices in Lithuania, Singapore, Vietnam and Srilanka. Assessing the factors,people can say thatRailsbank is going to announce an expansion towards the coming weeks.