Railsbank Head to Singapore After US$10million Investment
Railsbank are planning to launch their Singapore office following the successful completion of their series A funding round. The regtech company, based in London, has raised US$10million and plans to expand into further into Asian markets.
The company has an API that allows developers and product managers to get a fiancial product to market, fully formed and at speed. The interface allows developers to handle banking facilities, card payments, and compliance with simple coding.
Along with the Singapore office, which has aleady been recruited nd will expand, the company now plan to take on engineering teams in Vietnam and Sri Lanka. The core team of engineers in Lithuania will also be expanded.
Singapore Life joined the funding round, along with CreditEase and Clocktower Technology Ventures, with additional funds also coming from exisitng investor Firestartr. Nigel Verdon, Co-Founder and CEO of Railsbank, said: “We are delighted to welcome our new investors who join our amazingly supportive investor list."
He continued, "our industry leading products and highly skilled management team are being leveraged across a growing customer base, and we are continually being presented with opportunities on a global scale.”