Running the report, Sky News Business indicated that Railsr, the trading name of Embedded Finance, will soon announce that it made a deal with investors to raise £19.8m. The majority of the money comes from investors who are already familiar with the company, such as D Squared Capital or Moneta Venture Capital.
Those rooting for the success of the company regard this as a vote of confidence in Railsr’s financial future. The funds, part of which will be converted loans, provide much-needed capital to the fintech after it has undergone a prepackaged administration in order to survive.
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After a period of aggressive expansion, the company faced significant regulatory issues. The company has been struggling to get back up and running since its insolvency.
Railsr named Phillippe Morel its CEO in April to try and save the company. He was appointed alongside other new appointments including Debbie Lotz (chief financial officer, CFO) and Nick Charteris (chief operating officer, COO).
Rick Haythornthwaite was also named as the chair of its board. With the…