peekpublishersTLDR:
- UK fintech Embedded Finance, known as Railsr, has approached Equals Group for a potential merger.
- Equals Group confirms receipt of a non-binding proposal from a consortium expressing interest in acquiring the company.
UK-based fintech Embedded Finance, trading as Railsr, has reached out to Equals Group with a proposal for a potential merger, as reported by Sky News. Following this report, London-headquartered Equals Group released a statement acknowledging receipt of an indicative non-binding proposal from a consortium led by Embedded Finance Limited and TowerBrook Capital Partners. This expresses their interest in making an offer for the entire share capital of Equals. However, there is no certainty of a firm offer being made or the terms it might entail. Railsr must declare a definitive intention by April 17 as per UK takeover code regulations.
Recently, Railsr has faced challenges and underwent a rescue sale last year to a consortium of venture capital firms. The company has since appointed new executives and secured fresh funding of $24 million to drive growth. Former UK chancellor of the exchequer Lord Philip Hammond was appointed as the chair of Railsr following the departure of Rick Haythornthwaite to become chairman of NatWest Group.
Key tags associated with this news include Mergers & Acquisitions/M&A, Partnerships, and Payments. This potential merger reflects ongoing strategic reviews by both parties and the evolving landscape of fintech in the UK.
