Berlin-based Payrails officially emerges from stealth as it prepares to launch its financial operations platform, Payrails OS. The company is supported by a $6.4 million seed round that was led by Andreessen Horowitz last December.
Having built and scaled the fintech services division of Delivery Hero, Payrails founders Orkhan Abdullayev, Emre Talay, and Nicolas Thouzeau, saw firsthand the pain points experienced by fast-moving companies can experience across today’s digital payments-first landscape.
Building upon this previous experience, the raison d'être behind Payrails is to not only simplify and eliminate the gaps in a fragmented payment environment but turn those losses into wins.
With Payrails OS, the startup presents enterprise and fast-growing companies with an end-to-end operating service that powers payments and financial processes regardless of country, currency, and/or payment method.
As time to market can be a key factor in the life or death of a certain product or service rollout, Payrails offers merchants the ability to quickly and easily adapt to changing market conditions and customer desirables with the ability to more easily add new payment methods and thus improve authorisation rates, all while staying in compliance with local regulations.
“As we have experienced countless challenges related to building, operating, and scaling payments and financial services globally, we empathize with enterprises’ pain points. Our ledger-based operating system, Payrails OS, targets these challenges directly and allows enterprises to unlock value fast,” commented Payrails CEO Abdullayev.
In addition to Andreessen Horowitz’s lead, Payrails is also supported by parade of German ecosystem notables including HV Capital, Delivery Hero CFO Emmanuel Thomassin, Flixbus founders Jochen Engert, André Schwämmlein and Daniel Krauss as well as HelloFresh founder Dominik Richter.
"As companies scale globally, they need infrastructure that allows them to quickly and easily add payment gateways and payment methods to be able to accept payments from their customers, as well as optimize their payment routes and authorization rates,” explained Andreessen Horowitz’s Seema Amble.”The Payrails team deeply understands the payment challenges facing merchants as they grow. The founders bring a wealth of experience and a strong track record of execution to build solutions for this category, helping customers minimize complexity as they grow and scale."
Lead image: Nils Hasenau