Payment software company Payrails has secured $32m in Series A funding round, aimed at accelerating product innovation and expanding the company’s presence across the EMEA region.
The funding round was led by HV Capital’s Growth Fund and supported by contributions from existing investors EQT Ventures, General Catalyst, and Andreessen Horowitz, bringing Payrails’ total funding to over $52.8m.
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Throughout 2024, Payrails has processed over one million daily transactions, ventured into 30 new markets within Europe and the MENA region.
The platform serves as an integrated solution that spans the entire payment lifecycle, offering a modular system that includes payment orchestration, payouts, tokenisation, unified analytics, automated reconciliation, and the recent addition of in-person payments.
Payrails boasts a catalogue of more than 100 integrations with various payment service providers and software solutions, including Stripe, Adyen, Forter, SAP, Salesforce, and Snowflake.
Payrails co-founder and CEO Orkhan Abdullayev said: “We’re grateful for the trust our customers and investors have placed in us. Their continued support fuels our vision of empowering enterprises with an all-in-one platform to manage every aspect of payments, unlocking new levels of performance and innovation while driving down complexity and costs.
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By GlobalData“With this funding, we’re doubling down on product development to expand our multi-product platform across the entire payment lifecycle. Our payment operating system is setting a new industry standard for how enterprises manage and optimize payments, with more control, visibility and flexibility than ever before.”
Earlier in the year, Payrails teamed up with Mastercard to enhance payment capabilities for large-scale enterprises.
To support the growth, Payrails is recruiting for its commercial and product teams in several cities, including Berlin, London, Paris, Dublin, Cairo, and Dubai.
Additionally, the company has appointed Edward Moore as chief revenue officer, Willian Carminato as chief technology officer, and Patrick Bellinghausen as VP of finance.
