Startups are facing a moment of reckoning in the current economic climate, and today one of the more promising in the world of fintech has cracked under the pressure. Railsr, the London, UK embedded finance startup formerly known as Railsbank and once worth nearly $1 billion, announced today that it has been acquired by a shareholder consortium; and as part of the deal, it’s going into administration so that it can continue as a going concern as it restructures.
The consortium, which trades under the name Embedded Finance Ltd, includes previous Railsr’s investors D Squared Capital, Moneta VC and Venture Capital. The company is not disclosing the value of the deal. It was valued, when still …
