Payrails, an enterprise payments platform based in Berlin, Germany, has raised $32 million in what the start-up describes as “one of the largest Series A rounds for a fintech company in Europe this year”.
The round was led by HV Capital’s Growth Fund with support from EQT Ventures, General Catalyst, and Andreessen Horowitz. These existing investors previously supported Payrails’ $6.4 million seed round in 2022, which was followed by a $14.4 million seed extension the following year.
The company has now raised over $52 million since being founded four years ago by the same team behind Delivery Hero. Payrails’ payment operating system features enterprise tools for payment orchestration, payouts, tokenisation, analytics, reconciliation, and in-person payments.
Having expanded to 30 new markets across Europe and MENA in 2024, the company says it will use the funding to “expand its all-in-one platform with new products across the payment lifecycle, from acceptance to payouts”. This includes plans to expand its commercial and product teams in Berlin, London, Paris, Dublin, Cairo, and Dubai.
Recent hires at the company include Edward Moore as chief revenue officer (CRO), Willian Carminato as chief technology officer (CTO), and Patrick Bellinghausen as VP of finance.
Source: https://www.fintechfutures.com/
