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Visa backs open banking and compliance platform Railsbank

Railsbank, the open banking and compliance platform, has picked up further investment, following the company’s $10 million Series A in September 2019.
This time backing comes from Visa — a strategic investment, if you will — along with Global Brain, a venture capital firm based in Tokyo, Japan. The exact amount isn’t being disclosed, though sources peg it as “several million” U.S. dollars.
In addition to investment, Railsbank is announcing that it has signed a 5 year partnership with Visa to deliver Banking as a Service (BaaS) innovation in Southeast Asia, and recently became a Visa “principal issuing” member.
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