The people
What they build
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Working at Railz
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On the TechTO stage
Railz.ai and Vestigo Ventures
Watch on YouTube ↗Inside Scoop: Changes Within The Tech Ecosystem at Railz
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About
Railz's premise was that small-business lending runs on stale paperwork. Instead of asking a borrower to upload PDFs, Railz connected directly to the borrower's own accounting software and normalised what it found, so a lender could see current receivables, revenue and cash position through one integration rather than half a dozen. BetaKit reported the company was founded in June 2020 in Toronto; eleven months later it raised a US$12M Series A led by Nyca Partners, with N49P among the participants, on top of an earlier seed. It sold to financial institutions, fintechs and wealth-management firms, and Shawna Stewart built its people and operating function through the scale-up. The company was acquired by FIS: railz.ai now redirects to fisglobal.com, whose product page reads "FIS Accounting Data as a Service (formerly Railz)", and the developer docs at docs.railz.ai carry the same FIS branding. Aggregator databases date the deal to August 2024; no primary announcement was found, so the date is not stated here as sourced.
Backers
Nyca Partners led the May 2021 Series A, with Susa Ventures, Vestigo Ventures, Entrée Capital, Global Founders Capital, Plug and Play Ventures, N49P and Hack VC participating
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Quick answers
What did Railz do?
It provided one API into the accounting platforms small businesses use, so lenders, fintechs and banks could pull live financial data for underwriting and monitoring instead of relying on uploaded statements.
What happened to Railz?
FIS acquired it. The product is now sold as FIS Accounting Data as a Service — FIS's own page calls it "(formerly Railz)" — and railz.ai redirects there. Co-founder Sohaib Zahid led the company through the deal; VP of people and operations Shawna Stewart moved across to FIS and later became a director of product on the same team.
How much did Railz raise?
BetaKit reported a US$12M ($14.5M CAD) Series A in May 2021, led by Nyca Partners with Susa Ventures, Vestigo Ventures, Entrée Capital, Global Founders Capital, Plug and Play Ventures, N49P and Hack VC. The company later described its total as more than US$15M.
When was Railz founded?
June 2020, in Toronto, per BetaKit's May 2021 funding report.