# Railz Financial Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/railz-financial-technologies

- Industry: Software
- Headquarters: Toronto, Canada
- Website: www.railz.ai
- Total disclosed funding: $12M
- Latest round: Series A (May 6, 2021)
- Investors on record: 8

## About

Railz Financial Technologies Inc. specializes in financial data integration, providing a robust API that enhances access to accounting, banking, and e-commerce data for financial institutions and fintechs.Founded in 2018 in Toronto, Canada, Railz Financial Technologies Inc. delivers a comprehensive financial data API. The company has successfully raised funding through two deals, with its most recent Series A round occurring on May 6, 2021, during which it secured CAD 15 million led by Nyca Partners, alongside multiple prominent investors. The founders, Derek Manuge and Sohaib Zahid, have steered the company towards focusing on innovative financial solutions.Railz offers FIS® Accounting Data as a Service™, a financial data API that transforms how financial institutions, fintechs, and developers access and manage accounting, banking, and e-commerce data. By integrating seamlessly with leading accounting platforms like QuickBooks, Xero, and FreshBooks, Railz facilitates automated data gathering and financial transaction management, catering to small and midsize enterprises across various sectors including healthcare, retail, and energy in North America, Europe, and Australia.Railz generates revenue through a flexible subscription-based model that includes freemium access, monthly fees, and charges for connected businesses. Its B2B revenue structure relies on financial institutions and fintech companies subscribing to its services to enhance their offerings. The Accounting Data as a Service API and its analytics tools are central to client satisfaction and retention.Following its Series A funding round on May 6, 2021, where Railz secured CAD 15 million, the company plans to utilize these funds to expand its sales and engineering teams. This strategic move aims to enhance product offerings and improve market penetration, particularly targeting growth in the North American and European markets. Railz is focused on developing new products that meet the evolving needs of its clients in the financial data integration sector.

## Funding rounds

- Series A, May 6, 2021, $12M — Entree Capital, Global Founders Capital, Susa Ventures, Nyca, Vestigo Ventures, Hack VC, Plug and Play, N49P
- Seed, Aug 24, 2020 — Nyca, Vestigo Ventures, Plug and Play

## Investors

- Nyca (https://capitalatlas.ai/funds/nyca) — Seed, Series A
- Vestigo Ventures (https://capitalatlas.ai/funds/vestigo-ventures) — Seed, Series A
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed, Series A
- Entree Capital (https://capitalatlas.ai/funds/entree-capital) — Series A
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Series A
- Susa Ventures (https://capitalatlas.ai/funds/susa-ventures) — Series A
- Hack VC (https://capitalatlas.ai/funds/hack-vc) — Series A
- N49P (https://capitalatlas.ai/funds/n49p) — Series A