London-headquartered fintech firm Railsbank is expanding its presence in Singapore, Vietnam, Malaysia and Australia to support the growing demand for “embedded finance” in the Asia-Pacific region.
The company provides an application programming interface (API) that allows enterprises to offer their clients access to credit. For example, e-games or sports brands use “embedded finance experiences to engage deeper with the fan base economy”, it says, adding that the embedded finance business is now worth US$7.2 trillion.
Railsbank says it enables innovative brands in the Asia-Pacific region to “create deeper customer engagement, new customer business models and ultimately new customer revenues”.
The firm raised US$70 million in a recent funding round to pursue its expansion. It says it is expanding in Singapore as its regional hub, in Malaysia as its support and operations hub, in Vietnam as its engineering hub, and in Australia to bolster its existing team.
Founded in 2016, Railsbank now employs over 450 people across the United Kingdom and Europe, Asia-Pacific and the United States. It opened its Singapore office in 2019 and in Australia in 2021.