Africa’s Fintech Unicorn Flutterwave to Acquire British Fintech Railsr

Africa's Fintech Unicorn Flutterwave to Acquire British Fintech Railsr

There are reports that Flutterwave, one of Africa’s fintech unicorns wants to acquire Railsr.

Railsr which was Formerly Railsbank, specialises in embedded finance solutions, that include banking services, credit cards, and digital wallets.

Railsr has raised over $187 million in equity funding till date. Out of which it closed a $46 million Series C funding round in October 2022.

In August 2022, the UK fintech-as-a-service compan acquired the German company, Wirecard.

However, Railsr has been feeling the heat of the economic downturn, which has led the company to lay off several staff and downsize its operations.

Meanwhile. Northern Borealis, a Cyprus-based freight company, sued PayrNet, one of Railsr subsidiaries, for failing to pay out money from its account.

Flutterwave Flutterwave is a payment technology company that offers banks, businesses and individuals in Africa seamless and secure payment experiences.

If this deal goes through, Railsr will become Flutterwave’s second publicly disclosed acquisition after it acquired creator platform, Disha in 2021 for an undiscloded amount

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