Berlin — Berlin-based payment plat­form Payrails has secu­red a $14.4 million seed funding round for its end-to-end opera­ting system that covers the entire payment proces­sing value chain. The funds will go toward a “product road­map to solve custo­mers’ complex payment chal­lenges and increase go-to-market capa­city to serve the strong custo­mer pipe­line.” So it will promote growth.

The new round of funding, which builds on the $6.4 million seed round comple­ted last year, was led by new inves­tor EQT Ventures. Gene­ral Cata­lyst also parti­ci­pa­ted in the round, along with exis­ting inves­tors Andre­es­sen Horo­witz and HV Capi­tal.

The start-up was foun­ded by Orkhan Abdul­layev, Emre Talay and Nico­las Thou­zeau (photo © Payrails). They previously worked toge­ther in Deli­very Hero’s fintech services divi­sion, where they lear­ned first­hand the issues fast-growing compa­nies can face in today’s digi­tal payments land­scape. Payrails was foun­ded to elimi­nate these pain points and simplify the payments environment.

“We are very proud of what we have built and look forward to the jour­ney ahead. As payment proces­sing beco­mes more complex as orga­niza­ti­ons scale, the need to evolve the payment stack and leverage multi­ple proces­sors to improve perfor­mance is beco­ming an indus­try stan­dard. Leading compa­nies under­stand the stra­te­gic importance of opti­mi­zing payments and are looking for flexi­ble solu­ti­ons that can be adapted to their needs. With EQT Ventures, Gene­ral Cata­lyst, Andre­es­sen Horo­witz and HV Capi­tal, we have found strong part­ners with deep expe­ri­ence in FinTech and payment systems who believe in our long-term vision of enab­ling large global plat­forms to build end-to-end payment solu­ti­ons while we deve­lop the next-gene­ra­tion payment opera­ting system,” said Orkhan Abdul­layev, CEO and co-foun­der of Payrails.

“Enter­prise custo­mers need a high-quality, relia­ble payment product that can manage complex cash flows, incre­asingly in a multipro­ces­sor envi­ron­ment. Deve­lo­ping a scalable product to meet these requi­re­ments is some­thing like the SAP of payments. This requi­res both depth and expe­ri­ence in deve­lo­ping simi­lar products, and so the Payrails team is ideally posi­tio­ned to meet this chall­enge — the posi­tive feed­back from its live custo­mers is testa­ment to this. We have a passion for payments and for teams that deve­lop cross-gene­ra­tio­nal solu­ti­ons. Payrails addres­ses one of the biggest chal­lenges in payments, and we look forward to being part of Payrails’ jour­ney,” said Kaushik Subra­ma­nian, Part­ner at EQT Ventures.