London, 29 February 2024 – Embedded Finance, operating under the brand Railsr, revealed the appointment of Lord (Philip) Hammond of Runnymede as its incoming Chairman, effective from 15 April 2024.
Lord Hammond is set to succeed Rick Haythornthwaite, who will be transitioning to the role of Chairman at NatWest Group. With a storied career in both the political and commercial realms, including key Cabinet positions such as Chancellor of the Exchequer and roles with Ardagh Group, OakNorth Bank, and Copper Technologies, Lord Hammond brings a wealth of experience to Railsr.
Railsr, at the forefront of the embedded finance industry, offers comprehensive banking-as-a-service and cards-as-a-service solutions. Its technology enables seamless integration of banking and card functionalities into client products, enhancing the end-user finance experience. With Railsr, companies can navigate the complexities of financial regulation and connect effortlessly to major payment schemes, backed by continuous improvements in customer operations.
The appointment is a testament to Railsr’s ambition to consolidate its position as a leader in the fintech space. The company, under the stewardship of D Squared Capital and Moneta through Embedded Finance Limited, aims to redefine the landscape of fintech by acquiring top-tier assets and driving innovation.
Rick Haythornthwaite expressed his confidence in Lord Hammond’s capacity to lead Railsr to new heights, citing his extensive business and political acumen as invaluable assets at this pivotal juncture for the company. Lord Hammond, in turn, acknowledged the solid foundation laid by his predecessor and expressed eagerness to propel Railsr towards becoming the foremost provider of embedded finance solutions.
Dan Adler of D Squared Capital and Meirav Har Noy of Moneta echoed the sentiment, highlighting Lord Hammond’s appointment as a significant milestone for Railsr. Philippe Morel, CEO of Railsr, underscored the strategic importance of this leadership transition, following the company’s successful funding round in October of the previous year. He emphasized the momentum being built and the clear trajectory set towards regaining industry leadership, driven by best-in-class technology and a robust market position.
This leadership transition marks a promising new chapter for Railsr, with the embedded finance sector poised for further growth and innovation under Lord Hammond’s guidance. The company’s stakeholders express unanimous optimism about its future direction, underscoring a shared commitment to excellence and leadership in fintech.
