Railsbank is increasing its footprint across APAC, scaling up its presence in Singapore, Vietnam, Malaysia and Australia.
The expansion will support innovative brands in APAC that aim to leverage the power of embedded finance experiences within their existing customer experience.
The strategic outcome for these innovative brands is to create deeper customer engagement, new customer business models and ultimately new customer revenues, through accessing the $7.2 trillion embedded finance economy. For example, e-games or sports brands using embedded finance experiences to engage deeper with the fan base economy.
The expansion includes the growth of the Singapore team to maximise its position as the company’s hub in the Asia Pacific region and a support and operations hub in Malaysia; establishing an engineering hub in Vietnam; and in Australia, expanding the existing team.
This signals Railsbank’s strong commitment to support the growing demand for embedded finance throughout Asia Pacific, and in particular, Railsbank’s vision of its new industry category, “Embedded Finance Experiences”. The news also follows a recent funding round in which the business raised US$70 million to grow its global presence.
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 highlighting 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.