Payrails receives $14.4 million in equity financing

Payment system Payrails receives USD 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 extended 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 $20.8 million in funding.

As payment processing becomes more complex as companies scale, the need to further develop payment processing increases 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 payments process space for platforms, marketplaces and large enterprises. The founding team recognized the gap in the market and is addressing the global digital payments market, which is expected to grow to 3.3 trillion by 2031. USD. With Payrails, companies can process international payment transactions across multiple processors without having to build internal structures.

Enterprise customers need a high-quality, reliable payments 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 it received to advance its product development and implement its go-to-market strategy. By leveraging local payment methods and routing transactions to multiple processors in over 200 countries, early customers have already improved their payment processes, resulting in cost savings and higher authorization rates.

With Payrails, companies will gain 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 startup currently has a 30-person 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 infrastructure.