British fintech is in talks with rival suitors including Africa’s largest payments technology company about a sale that would take place at a steep discount to an earlier funding round.
Railsr – which was previously known as Railsbank – is fielding offers from potential buyers including Flutterwave, which has attracted a multibillion-dollar valuation.
A consortium comprising a number of existing Railsr investors was also vying to acquire the company, which specializes in so-called embedded finance solutions such as banking services, credit cards and digital wallets.
Railsr itself raised a bridge funding round late last year which was designed to provide enough capital to see it through to a sale.
The company is transforming the finance industry in the same way that Apple did to the music industry when they created iTunes.
Railsr has raised well over $100m in equity funding, with backing from investors including Visa.