GERMANY – Payrails, a Berlin, Germany-based provider of an operating system for payments and financial services, raised USD 6.4m in seed funding.
The round was led by Andreessen Horowitz with HV Capital, Delivery Hero CFO Emmanuel Thomassin, Flixbus founders Jochen Engert, André Schwämmlein and Daniel Krauss as well as Dominik Richter, founder of HelloFresh, joining the round.The company intends to use the funds to launch Payrails OS, and invest in its team and product development – aiming to grow the headcount from 30 to 100 by the end of this yearFounded in late 2021 by Orkhan Abdullayev, Emre Talay, and Nicolas Thouzeau – an experienced team of payment and marketplace experts who previously built and scaled the FinTech arm of Delivery Hero, a large delivery platform, across 30 countries, Payrails provides a cloud-based operating system, called Payrails OS, which enables enterprises to manage payments and build financial services for customers across the globe. With Payrails, businesses can leverage a single Application Programming Interface (API) to scale their payments and financial capabilities via smart payment routing, consolidated money movements, and payment reconciliation via ledgers. At the same time, enterprise clients can track their payments’ performance through unified analytics, providing more control and visibility over a company’s financial operations and helping to reduce payment fraud. Payment-Service-Providers (PSP) benefit from the solution as well. Payrails is launching its solution in Europe starting working with select clients using its infrastructure to improve their payment performance. 17/03/2022
