Railsr suggests joining forces with Equals Group
The parent company of Railsr, Embedded Finance, has reportedly approached Equals Group about merging the two businesses, according to Sky News.
Although no action has been done, Equals Group confirmed that they have received a non-binding request to combine pooled capital from Embedded Finance and TowerBrook Capital Partners.
It is unknown if the two businesses are actively discussing the offer, as Equals Group disclosed at the stock exchange announcement on Wednesday. The offer time is extended till April.
Just last month, former chancellor Lord Hammond of Runnymeade became a chairman of Railsr and suggested merging with London-based Equals Group.
The Bank of Lithuania cancelled Railsr's banking license in 2023 due to AML and payment law infractions.
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