Embedded finance platform, Railsbank is looking to expand its footprint in the region after Singapore with plans to launch in Vietnam, Malaysia, and Australia.
This expansion is part of its aim to support brands in APAC that can leverage its embedded finance solutions. Embedded finance refers to the seamless integration of financial services adopted by non-financial companies. … For example, retailers can now embed financial lending services onto their platform and give their customers the option to split online purchases into monthly installments, also known as buy now, pay later.
Railbank plans to grow its Singapore team to maximise its position as the company’s hub in the Asia Pacific region and a support and operations hub in Malaysia and further establish an engineering hub in Vietnam, and in Australia.
Since raising US$70million in its recent funding round, the firm looks to grow its presence in the Asia Pacific as demand for embedded finance is growing at healthy levels.
Ben Smith, General Manager (Australia) and Interim COO (APAC), said: “Our success in Singapore has already allowed us to extend our operations and reach across the region in 2021, including launching a new office in Australia. As we position the business for growth in key Asia Pacific countries from 2022 onwards, we will be in a stronger position to support the region’s rapidly growing embedded finance experiences industry.
“These growth plans will bolster our business operations as a whole, as well as highlight our commitment to the region. We look forward to cementing our presence in APAC to support the needs and business growth of our customers.”
In five years, the Railsbank business has grown to employ over 450 people across the UK and Europe, APAC, and the US. Railsbank opened its Singapore office in 2019 and Australia in 2021.
