Financed Payment Solutions Raises $32 Million in Series A Funding to Enhance Businesses' Payment Efficiency

Payrails, a leading payment software company, has announced that it has raised $32 million in Series A funding. The round was led by HV Capital's Growth Fund, with participation from EQT Ventures, General Catalyst, Andreessen Horowitz, and other undisclosed investors.

This funding brings the total raised by Payrails to over $52.8 million. The funds will be used to advance product innovation, expand the product roadmap, and support commercial growth across Europe, the Middle East, and Africa (EMEA).

The payment operating system developed by Payrails is setting a new industry standard for enterprise payment management. The system is purpose-built for enterprises, enabling companies to orchestrate complex payment flows. This addresses the long-standing issue of the complex and fragmented nature of enterprise payment operations.

Payrails' co-founder and CEO, Orkhan Abdullayev, expressed his gratitude for the continued support from customers and investors. He also welcomed the new members to the Payrails team, including Edward Moore as Chief Revenue Officer and Willian Carminato as Chief Technology Officer.

David Haber, General Partner at Andreessen Horowitz, expressed his pride in supporting Payrails as they reshape the future of payments operations. Zeynep Yavuz, Partner at General Catalyst, echoed this sentiment, stating that the need for unified, scalable payments infrastructure has never been more urgent, and Payrails is building the operating system for this world.

Kaushik Subramanian, Partner at EQT Ventures, believes that Payrails' modular approach, execution speed, and strong customer traction set them apart in a category overdue for transformation. Alexander Joel-Carbonell, Partner at HV Capital, has worked closely with Orkhan and Emre for over eight years and is thrilled to continue supporting them.

Notably, Payrails has entered into a strategic deal with Mastercard to accelerate digital transformation and unlock next-generation payment capabilities for large-scale enterprises. The companies that have held the lead roles in recruiting executives at Payrails have not been publicly specified.

Payrails is currently utilized by leading global brands such as Puma, Vinted, Flix, InDrive, Just Eat Takeaway, and Careem. The company's impressive strategic instincts and relentless execution have not gone unnoticed, as evidenced by the impressive roster of investors backing them.

With this new funding round, Payrails is poised to expand its multi-product platform across the entire payment lifecycle, further solidifying its position as a leader in the payment operations industry.