Payrails receives USD 14.4 million in equity financing

Payrails receives $14.4 million in equity funding from EQT Ventures to scale its global platform and improve payment management for tech companies and large enterprises.

Payment system Payrails has announced that it has expanded its seed funding by USD 14.4 million to scale its payment processing operating system. The funding round was led by EQT Ventures, with participation from General Catalyst, Andreessen Horowitz and HV Capital. Payrails is already used by international enterprise customers and has received a total of USD 20.8 million in funding.

As payment processing becomes increasingly complex as companies scale, the need to further develop payment transactions is growing immensely

Orkhan Abdullayev, CEO and co-founder of Payrails

Payrails has developed an end-to-end payment processing operating system to improve the highly fragmented area of payment processes for platforms, marketplaces and large enterprises. The founding team recognized the gap in the market and is addressing the global market for digital payments, which is set to grow to USD 3.3 trillion by 2031. USD by 2031. With Payrails, companies can process international payment transactions via multiple processors without having to set up internal structures.

Corporate customers need a high-quality, reliable payment processing infrastructure to manage complex payment transactions with the support of multiple processors

Kaushik Subramanian, Partner at EQT Ventures

FinTech company Payrails will use the funding received to accelerate its product development and execute its go-to-market strategy. By using local payment methods and routing transactions to different processors in over 200 countries, first customers have already been able to improve their payment processes, resulting in cost savings and higher authorization rates.

With Payrails, companies will have access to a comprehensive platform that we believe covers the entire payments value chain

Zeynep Yavuz, Partner at General Catalyst

The company was founded in 2021 by former Delivery Hero employees Orkhan Abdullayev, Emre Talay and Nicolas Thouzeau. The start-up currently has a 30-strong team based in Berlin. Payrails has developed an operating system that enables companies to build and scale payment solutions without the need for expensive internal infrastructures.