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Payrails Secures €27 Million to Revolutionize Payment Industry
In a significant boost for Berlin’s bustling fintech landscape, Payrails, a pioneering startup specializing in global payment software, has successfully raised €27.7 million in Series A funding. This funding round, which stands out as one of the largest for a fintech company in Europe this year, is aimed at driving innovation and commercial growth across Europe, the Middle East, and Africa (EMEA).
Driving Growth and Innovation
Led by HV Capital’s Growth Fund, this investment comes with robust backing from existing investors like EQT Ventures, General Catalyst, and Andreessen Horowitz. It brings the total funding secured by Payrails to an impressive €45.8 million. Orkhan Abdullayev, the company’s co-founder and CEO, expressed gratitude for the trust bestowed upon them, highlighting their commitment to empowering enterprises with an all-in-one payment platform designed to enhance performance while simplifying complexities and controlling costs.
A Comprehensive Payment Solution
Founded in 2021 by former innovators from Delivery Hero, Payrails is dedicated to redefining payment operations for enterprises. Their modular platform encompasses the entire payment lifecycle, including payment orchestration, automated reconciliations, and recently expanded functionalities such as in-person payments. As they look to the future, Payrails aims to advance its product roadmap further, establishing new industry standards in payment management.
Reaching New Heights
The startup’s recent funding follows a period of remarkable growth, with Payrails processing over a million daily operations in 2024 alone. Their expansion into 30 new markets across Europe and the MENA region has attracted notable enterprise customers, including global brands like Puma and Just Eat Takeaway, affirming their strategy of reducing operational barriers while enhancing innovation.
Conclusion: A Bright Future Ahead
The success of Payrails is not just a win for the company; it is a testament to the vibrant fintech ecosystem in Berlin. For financial institutions and service providers, keeping an eye on Payrails as it develops could provide insights into the future of payment technologies and operational efficiencies.
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