About QRails
QRails is a Financial Services company based in Denver (United States) founded in 2016, and was acquired by XTM in June 2023. QRails has raised $42.92 million across 8 funding rounds from investors including XTM, EFM Asset Management and Gary Hoffman. QRails offers products and services including Payment Processing, Earned Wage Access, Funds Disbursement, Paycards, and Program Management. Its focus areas include FinTech, Payments, Enablers and Issuer Processor. Its competitors include Heartland Payment Systems, Euronet Worldwide and Marqeta; 2 of its 3 listed competitors have raised funding.
Company details
Card issuer processing solutions. Features of the solution include omnichannel support, loyalty schemes, fraud management, and instant issuance. The solution works with both Mastercard and Visa networks and on closed and open-loop systems supporting all types of cards including credit, debit, and prepaid. Also supports various card types such as EMV, NFC-enabled cards, and instant issuance cards. Additional solutions offered include white-label mobile wallets and banking applications.
- Headquarters Denver, United States
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website qrails.com
- Social LinkedIn X
- Acquired by XTM (Jun 2023)
Products & Services of QRails
QRails offers a comprehensive portfolio of products and services, including Payment Processing, Earned Wage Access, Funds Disbursement, Paycards, and Program Management.
Handles cloud-based API for various payment needs securely.
Offers processing for early wage access and financial support.
Provides flexible APIs for disbursing funds via multiple methods.
Manages fully featured paycard programs for employers and employees.
Delivers support for effective payment program operations.
Funding Insights of QRails
QRails has successfully raised a total of $42.92M across 8 strategic funding rounds. The most recent funding activity was a Series B round of $4.97 million completed in October 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $42.92M
- Total Rounds 8
- Last Round Series B — $4.97M
- First Round $640,000
(Oct 2016)
- Investors Count 4
All 8 funding rounds of QRails with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2022 | $4.97M | Series B | – | – | – |
| Jul 2022 | $8.2M | Series B | – | – | – |
| Feb 2021 | $10.18M | Series B | – | – | – |
| Aug 2020 | $4.99M | Series A | – | – | – |
| Jun 2019 | $3.67M | Series A | – | EFM Asset Management | – |
| Oct 2018 | $7M | Angel Round | – | Gary Hoffman, Jonathan Hughes | – |
| Mar 2018 | $3.26M | Series A | – | – | – |
| Oct 2016 | $640,000 | Seed | – | – | – |
5 investors in total: 2 institutional and 3 angel.
Investors in QRails
QRails has secured backing from 5 investors, including institutional and angel investors. Prominent investors backing the company include XTM, EFM Asset Management and Gary Hoffman.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Diversified asset management services are offered to investors. | 2016 | efmaml.com | Hong Kong, China | |
GH Gary Hoffman | unknown_28d947cf108a484f8 | |||
JH Jonathan Hughes | Angel investor in Indian startups, focused on tech and innovation. | unknown_1356f36473fd41568 | ||
AM Alan Morgan | unknown_8df42e48b8104da08 | |||
On-demand payment solutions are provided for service industry businesses. | 2006 | xtminc.com | Toronto, Canada |
Investor details for QRails
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of QRails
10 people are tracked at QRails (3 in leadership, 4 in board & advisors, 3 in team).
| Name | Role | Group |
|---|---|---|
Naseer Nasim | Board Advisor | Leadership |
Linda Abbott | Director Of Fraud And Loss Management | Leadership |
Doug Earp | Chief Technology Officer | Leadership |
Peggy Mangot | Chairperson | Board & advisors |
Dan Revers | Board Member | Board & advisors |
Angus Walker | Board Member | Board & advisors |
Will Weisman | Board Member | Board & advisors |
Sharon Kirby | SVP, UK & Europe | Team |
Karen Henricksen | Controller | Team |
Andrew Geesen | Product & Team Lead Quality Assurance | Team |
Complete people profiles for QRails
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
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Timeline of QRails
4 dated milestones of QRails across 7 years, from founding to its latest funding, stage changes and deals.
- Founded QRails is founded.
- Funding First funding round of $640K.
- Funding Latest funding round, Series B, of $5.0M.
- Exit Acquired by XTM.
Competitors of QRails
QRails has 3 listed competitors in our database, 2 of them funded. They include Heartland Payment Systems, Euronet Worldwide and Marqeta.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| heartlandpaymentsystems.com | 1997 | Princeton, United States | $40M | Payment processing, POS and Gift Card services | ||
| euronetworldwide.com | 1994 | Leawood, United States | 10,000 | Electronic payments and transaction processing solutions are offered globally. | ||
| marqeta.com | 2010 | Oakland, United States | $528.11M | 854 | Card-issuing and payment processing solutions are offered to businesses. |
Detailed competitors of QRails
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Web traffic of QRails
The website of QRails (qrails.com) receives about 3.8K visits a month.
- Monthly visits3.8K
▲ 1.3% vs previous month
Top companies in Payments & Remittance Platforms
3 companies that operate in the same segment as QRails (Payments & Remittance Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Payment processing and card issuance solutions are provided for businesses. | 2009 | San Francisco, California, United States | USD 9.81 B | 16,622 | ||
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 3,108 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 5.07 B | 6,209 |
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Related news about Qrails
Complete news archive for QRails
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Frequently Asked Questions about QRails
QRails was founded in 2016.
QRails is headquartered in Denver, United States. It is registered at Denver, Colorado, United States.
QRails is a funded company, having raised a total of $42.92M across 8 funding rounds to date. The company's 1st funding round was a Seed of $640K, raised on Oct 2016.
Card issuer processing solutions. Features of the solution include omnichannel support, loyalty schemes, fraud management, and instant issuance. The solution works with both Mastercard and Visa networks and on closed and open-loop systems supporting all types of cards including credit, debit, and prepaid. Also supports various card types such as EMV, NFC-enabled cards, and instant issuance cards. Additional solutions offered include white-label mobile wallets and banking applications.
QRails's top competitors include Euronet Worldwide, Marqeta and Heartland Payment Systems.
QRails offers Payment Processing, Earned Wage Access, Funds Disbursement, Paycards, and Program Management.
QRails has 5 investors. Key investors include XTM, EFM Asset Management, Gary Hoffman, Jonathan Hughes, and Alan Morgan.
Yes. QRails was acquired by XTM in June 2023.