Berlin, Germany-based provider of an operating payment system for global platforms, Payrails raised USD 14.4 million (EUR 13.5 million) in seed financing. The round took place on June 7, 2023. EQT Ventures led the financing as a new investor. General Catalyst, as well as existing investors Andreessen Horowitz and HV Capital, provided the investment.
So far, the company’s total financing stands to EUR 19.5 million.
Purpose of financing for Payrails
With the latest capital injection, the company intends to scale its next-generation financial operations (FinOps) platform. Meanwhile, it has plans to fuel its product roadmap to solve its customers’ complex payment challenges.
In addition, it seeks to increase go-to-market capacity, catering to its strong customer pipeline.
What the company’s official has to add
Orkhan Abdullayev, CEO and Co-Founder of Payrails said, “We are extremely proud of what we have built and look forward to the journey ahead. As payment processing gets more complex once companies scale, the need to keep advancing the payment stack and leverage multiple processors to improve performance becomes the industry standard. Leading companies understand the strategic importance of optimising payments and are searching for flexible solutions that can adapt to their needs. With EQT Ventures, General Catalyst, Andreessen Horowitz and HV Capital, we have found strong partners with significant experience in FinTech and payment systems who believe in our long-term vision of enabling large-scale global platforms to build end-to-end payment solutions as we develop the next-generation payment operating system.”
What the investors have to comment
Kaushik Subramanian, Partner at EQT Ventures, further said, “Enterprise customers require a high quality, reliable payments product that can manage complex money flows, increasingly in a multiprocessor environment. Building a scalable product for this is akin to building the SAP of payments. This requires both depth and experience in building similar products, and this is why the Payrails team is ideally positioned to tackle this challenge – the positive feedback from their live customers is a testament to this. We are passionate about payments and teams that are building generation-defining solutions. Payrails addresses one of the major challenges in payments, and we look forward to being part of Payrails’ journey.”
In addition, Zeynep Yavuz, Partner at General Catalyst, said, “As digital marketplaces became more global, payment processes have also expanded. Previously, global marketplaces had no choice but to build in-house payment systems or combine different solutions as they scaled into new markets, both of which required significant resources to manage payment processes. With Payrails, companies will gain access to a full-stack platform that we believe addresses the entire payment value chain. The experience of the Payrails team, their early success with enterprise customers, and their partnership approach stood out to us, and we look forward to helping Payrails build a category-defining payments company for the enterprise sector and beyond.”
About the company
Orkhan Abdullayev, Emre Talay, and Nicolas Thouzeau launched the company in 2021. Payrails caters to multi-party platforms, streamlining marketplace payments and automating all financial operations within a unified solution.
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
 in seed financing.){kind=link}