British fintech Railsbank is eyeing up ‘unicorn’ status as it looks to raise $100m funding that would value the firm at over $1bn, according to news reports.
Railsbank, which provides digital banking services to financial service and consumer companies, has called in fintech-focused investment bank FT partners to work on the $100m round, Sky News’ Mark Kleinman first reported.
The round would value Railsbank at over $1bn and would make it the latest British unicorn, with sources telling Sky News that the round was expected to close in the coming months.
It follows a $70m funding injection last year from backers including Anthos Capital and Outrun Ventures, which bosses had suggested had left the firm with a valuation of close to $1bn.
Founded in 2016 by fintech veterans Nigel Verdon and Clive Mitchell, Railsbank has recently announced a ramping up of its presence in APAC with new hubs in Singapore, Vietnam, Malaysia, and Australia.
The firm now has a presence across Europe APAC and the US and has grown to employ over 450 people across the regions.
Railsbank and FT Partners declined to comment to Sky News.