Sky News says that top African fintech company Flutterwave and several other interested parties are in talks to buy the well-known British fintech company Railsr.
The UK-based startup focuses on “embedded finance solutions,” like banking services, and has been under pressure because it has been hard to get funding.Investors, such as Visa, have given Railsr more than $100 million in equity funding.
Sources say that Railsr’s current investors are also part of the group that wants to buy the company at a price much lower than an earlier investment round.
Railsr is getting competing offers when the fintech industry is getting ready for a wave of consolidation because companies are having trouble getting enough money to stay in business.
Railsr itself closed a “bridge round” last year, which was thought to be a way to keep the business going until a sale was finalized.