The consortium of funds managed by TowerBrook Capital Partners L.P., funds managed by J.C. Flowers & Co., and Railsr shareholders led by D Squared Capital and Moneta, has completed its acquisition of Railsr.
The acquisition closely follows the Consortium’s take-private of Equals, and marks the official combination of two fintech innovators:
Equals Money and
Railsr – creating one of the largest embedded finance providers in Europe.
This transaction combines Equals Money’s leadership in multi-currency accounts, FX, corporate cards, and financial solutions with Railsr’s pioneering embedded finance, BaaS (Banking-as-a-Service), and CaaS (Cards-as-a-Service) infrastructure and creates one
of the largest and most capable embedded finance platforms in Europe. The combined business will empower multi-geographical businesses and direct-to-consumer brands.
By integrating cross-border transaction expertise with next-generation embedded finance solutions, the newly combined group offers businesses a seamless way to embed financial services into their products, enabling them to launch, scale, and operate globally,
with confidence.
The newly combined group is backed by majority investors TowerBrook Capital Partners L.P. and J.C. Flowers & Co. Lingotto Investment Management, through its Lingotto Horizon Strategy, also co-invested with J.C. Flowers & Co.
A stronger, more comprehensive offering
The newly combined group will provide customers with an expanded suite of services, including
- Multi-currency accounts with enhanced payment capabilities
- Consumer and corporate-branded cards
- Embedded finance solutions tailored for fintech, corporates, and brands
- FX and international payment services with speed and efficiency
- Dual issuing of both Visa and Mastercard Cards Services
- Branded digital wallets for budgeting, tracking and rewards
By merging Equals’ deep industry expertise with Railsr's infrastructure and embedded finance capabilities, the combined group will be positioned to drive innovation in the global fintech landscape.
Leadership and future vision
The newly combined group will initially operate under their existing brands, with co-CEOs and an aligned vision to
empower companies and brands with seamless, borderless financial solutions.
Ian Strafford-Taylor, CEO of Equals Money and co-CEO of the new entity, said, "Today marks an exciting milestone in our journey. By joining forces with Railsr, we are enhancing our ability to deliver flexible, scalable financial services that empower businesses
of all sizes. Our customers will benefit from expanded capabilities, a stronger global presence, and a commitment to continuous innovation."
Philippe Morel, CEO of Railsr and co-CEO of the new entity, says: "This transaction will create an embedded finance leader with a strong balance sheet and real critical mass, positioning us to provide enhanced products
and services to our customers while promoting financial stability and compliance in an otherwise fragmented sector”.
Lord Philip Hammond, Chairman of Railsr and the newly combined group, said: “The combined Equals-Railsr business will be a major player and tech leader in embedded finance across the UK and Europe. I look forward to the business delivering strong growth and
ground-breaking innovation in this dynamic area of fintech services in the years ahead.”
In a combined quote, Joseph Knoll, Managing Director of TowerBrook Capital Partners L.P.; Nikolay Skibnevsky, Principal at TowerBrook Capital Partners L.P.; Tughan Alioglu, Managing Director of J.C. Flowers & Co; Dan Adler, Managing Director of D Squared
Capital; and Meirav Har Noy, Managing Partner of Moneta Capital, said: “This transaction brings together two complementary businesses with a shared vision of delivering innovative, seamless financial solutions to global enterprises. The strengthened capabilities,
enhanced product offering, and experienced leadership team position the combined business well for sustainable, long-term growth in the evolving embedded finance and payments landscape.”
Seamless integration and next steps
During the coming months, Equals Money and Railsr will work closely to integrate operations while ensuring uninterrupted customer service. Existing services will continue seamlessly, and clients will receive updates as enhancements are rolled out.
