Fintech firm Railsbank launches in Australia via tie-up with neobank Volt

Global fintech firm Railsbank announced its launch in Australia through a tie-up with local neobank Volt.

The partnership would enable the UK-based startup to continue its expansion within the Asia-Pacific region, with Australia considered as a highly strategic market, according to a statement.

Railsbank Asia Pacific chief operating officer Justin Xiao / Photo credit: Railsbank

As part of the partnership, Volt will launch Railsbank’s embedded finance offering in Australia. The neobank will also plug into Railsbank’s global network of partners and customers and offer a banking-as-a-service solution in Australia to help companies prototype, launch, and scale financial products.

“Collaborating with Volt gives us access to local knowledge and capabilities to help us succeed. This is a significant partnership for Railsbank as we continue our expansion in the Asia-Pacific region,” said Railsbank’s Asia Pacific chief operating officer, Justin Xiao.

In addition to the UK, Railsbank has offices in Singapore, the Philippines, Malaysia, Vietnam, Sri Lanka, the US, Germany, and Lithuania. Later this year, it plans to deepen its footprint in Japan, the Philippines, Thailand, and Vietnam.

In November last year, Railsbank raised US$37 million from investors including global payments major Visa as part of continued equity funding to support its global growth and product expansion.