Source: Payrails banks $14.4M for its OS for complex payments flows
Summary
Payrails has raised $14.4m in seed extension funding for its new framework that can develop and operate enterprise payment services. Payment engineers founded the start-up, which aims to take advantage of the difficulties enterprises face when trying to build payment flows efficiently for themselves. The company has developed an “operating system” for payments, which is designed similarly to a “SAP for payments”, offering customers Payments, Ledgers and Automations API. The system helps companies reduce payment costs and automate processes around payouts, money movement, and reconciliation.
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