Railsr and Equals Merge to Form Leading Embedded Finance Powerhouse

Deal News | Apr 29, 2025 | TowerBrook Capital Partners

The Consortium orchestrated by TowerBrook Capital Partners, alongside J.C. Flowers & Co., and other key stakeholders has successfully finalized the acquisition of Railsr. This move follows closely after the acquisition of Equals, marrying the capabilities of Equals Money with Railsr to form one of the most comprehensive embedded finance platforms in Europe. The merger aims to unite Equals Money's leadership in multi-currency solutions with Railsr’s embedded finance infrastructure, including Banking-as-a-Service and Cards-as-a-Service. The merged entity will provide a diverse suite of financial solutions for businesses, including multi-currency accounts, corporate and consumer cards, and digital wallets, maintaining their existing brands initially. With joint leadership under Ian Strafford-Taylor and Philippe Morel, the group is poised to drive innovation and growth within the global fintech ecosystem, aiming for a seamless integration and consistent service enhancements moving forward.

Sectors

  • Fintech
  • Embedded Finance
  • Banking & Payment Services

Geography

  • Europe – The newly combined entity is set to become a major player in the embedded finance space across Europe, with key operations in the UK and potential influence on a continental scale.

Industry

  • Fintech – The article discusses the merger of two companies, Railsr and Equals, into a major player in the embedded finance sector within the financial technology industry.
  • Embedded Finance – The merger creates one of Europe's largest embedded finance providers, leveraging Banking-as-a-Service (BaaS) and Cards-as-a-Service (CaaS) technology.
  • Banking & Payment Services – The combination focuses on multi-currency accounts, FX, corporate cards, and digital wallet services, comprising significant aspects of the banking and payment services industry.

Financials

    Participants

    NameRoleTypeDescription
    RailsrTarget CompanyCompanyA pioneering embedded finance platform focusing on Banking-as-a-Service and Cards-as-a-Service.
    Equals MoneyTarget CompanyCompanyA leader in providing multi-currency accounts, FX solutions, and corporate card services.
    TowerBrook Capital PartnersLead InvestorPE FirmA private equity firm leading the consortium that acquired Railsr and combined with Equals.
    J.C. Flowers & Co.Co-InvestorPE FirmCo-invested with TowerBrook Capital Partners in the acquisition and merger.
    D Squared CapitalInvestorInvestment FirmA key investor and shareholder in Railsr, part of the acquisition consortium.
    Moneta CapitalInvestorInvestment FirmParticipated as a Railsr shareholder involved in the transaction.
    Lingotto Investment ManagementCo-InvestorInvestment FirmParticipated in the merger through its Lingotto Horizon Strategy.
    Ian Strafford-TaylorCo-CEOPersonCEO of Equals Money and co-CEO of the newly combined entity.
    Philippe MorelCo-CEOPersonCEO of Railsr and co-CEO of the new entity.
    Lord Philip HammondChairmanPersonChairman of Railsr and the newly combined entity.
    Joseph KnollManaging DirectorPersonManaging Director of TowerBrook Capital Partners.
    Nikolay SkibnevskyPrincipalPersonPrincipal at TowerBrook Capital Partners.
    Tughan AliogluManaging DirectorPersonManaging Director of J.C. Flowers & Co.
    Dan AdlerManaging DirectorPersonManaging Director of D Squared Capital.
    Meirav Har NoyManaging PartnerPersonManaging Partner at Moneta Capital.