The Financial Conduct Authority is monitoring the financial health of Railsr, the banking-as-a-service provider, amid emergency sale talks, Sky News learns.
The City regulator is on alert for an emergency restructuring of Railsr, one of the UK’s most prominent fintechs.
City sources said that Railsr was progressing plans to sell its regulated operations to third parties following the termination of takeover talks with Flutterwave, the African payments technology business.It remained possible that the entire business would be sold through a solvent transaction, although an administration of Railsr's parent company has also been one of the options under consideration in recent days, according to insiders.
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