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Zūm Rails takes in first capital to launch new banking-as-a-service, FedNow offerings
Zūm Rails manages the flow of money by verifying a customer’s identity, linking directly with bank accounts and facilitating payments.
Until then, the co-founders of Zūm Rails say the experiences consumers have with payments continues to be fragmented, meaning companies have to create a tech stack to provide a wide range of services to their customers. They closed on a $10.5 million Series A funding round, led by Arthur Ventures, and intend to invest in growing in the U.S. and expanding its payments offerings that will include the introduction of new banking-as-a-service features for merchants. Rather than weaving together different systems, Zūm Rails can provide organizations with a comprehensive solution that powers the entire transaction journey and enables them to have a seamless experience for their end users.
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