Modulr vs Railsr
Modulr
modulrfinance.comRailsr
railsr.comSide by side
| Figure | Modulr | Railsr |
|---|---|---|
| Price from | £16.25/mo | Free |
| Free plan | — | Yes |
| Free trial | — | Yes |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | — |
| Android | Yes | — |
| API | Yes | Yes |
| Plans published | 12 | 6 |
| Spec score · Banking-as-a-Service Platforms | 8.5 (#4) | 8.2 (#5) |
| API | Modulr offers API documentation, developer guides and sandbox access. | Railsr says its APIs integrate finance capabilities into a brand's digital journey and keep Railsr behind the scenes. |
| Cards | The cards product supports single-use virtual cards, configurable controls and managed physical card programmes on Visa and Mastercard. | Railsr offers debit, prepaid, credit and virtual card capabilities, including card production, processing, lifecycle controls and mobile-wallet support. |
| Company size | LinkedIn lists Modulr as a privately held financial-services company with 201–500 employees. | LinkedIn lists the company size as 201–500 employees. |
| Founded | 2016 | 2016 |
| Funding | Modulr announced a $108 million Series C led by General Atlantic in May 2022. | Railsr announced $24 million of funding from existing investors including D Squared Capital and Moneta Venture Capital on October 27, 2023. |
| Headquarters | London, United Kingdom | The 2023 sale announcement says Railsr would remain headquartered in London's City. |
| Integrations | Modulr's integrations hub connects with more than 20 accounting and payroll systems, including Sage, Xero and BrightPay. | Railsr says its products package nearly 100 technical, commercial, operational, regulatory and financial-crime integrations behind one API and agreement. |
| Rating on Trustpilot | 4.6 out of 5 from 161 reviews | 1.7 out of 5 from 17 reviews. |
| Sandbox | A sandbox supplies API credentials, portal access and a fictitious £50,000 GBP account, with optional cards, direct debit and approvals features. | The Play Sandbox API uses fake money and is intended for writing code against a functional Railsr platform. |
| Support | The site provides customer support, fraud support and a service status page. | Existing customers are directed to log in to a service portal to raise support tickets. |
| What it does | Modulr automates payroll, supplier payments, collections and other business money flows through portals and APIs. | Railsr provides embedded-finance infrastructure that companies integrate into their own customer journeys. |
Plans
Modulr
- Payroll Payments Bronze£16.25 a month
- Accounts Payable and Spend Management Bronze£20 a month
- Bronze£30 a month
- Bundle Bronze£30 a month
- Payroll Payments Silver£67.20 a month
- Accounts Payable and Spend Management Silver£75 a month
- Bundle Silver£110 a month
- Silver£110 a month
- Payroll Payments Platinum£300 a month
- Accounts Payable and Spend Management Platinum£320 a month
Railsr
- LearnFree
- Live Sandbox APIFree
- Play Sandbox APIFree
- LaunchPriced on request
- PrototypePriced on request
- ScalePriced on request
In their own words
Modulr
Modulr provides a platform for automating money moving into and out of a business. Its listed products cover payroll payments, accounts payable, spend management and collections. Accounts are available in GBP, EUR and nine other currencies, with local IBANs in GB, NL, ES, FR and IE. The platform supports instant GBP and EUR pay-ins and pay-outs, CHAPS, Bacs, SEPA and SWIFT. Businesses can issue virtual and physical Visa and Mastercard cards, with Apple Pay and Google Pay support; controls include spend limits, authorisation windows and merchant category code settings. Listed integrations include BrightPay, Sage, Xero, QuickBooks, Workforce and Conferma, while Sage Intacct is marked as coming soon. Developers have API documentation, guides and sandbox access. Modulr says it is licensed as an electronic money institution by the FCA in the UK and DNB in the Netherlands. It also states that it is not a bank and that customer funds are safeguarded rather than covered by FSCS. Paid plans are listed at £30 a month for Bronze, £110 a month for Silver and £500 a month for Platinum. The service is available on Android, iOS, web and API.
Railsr
Railsr is an embedded finance platform for companies adding financial services to digital products. Its capabilities include wallets and accounts, debit, prepaid, credit and virtual cards, money transfers and reward programmes. Railsr says its APIs place these services within a brand’s digital journey, with the platform operating behind the scenes. It packages close to 100 integrations under a single API and commercial agreement. Developers can use the Play Sandbox API, a functional coding environment that uses fake money. The platform is offered through API and web and lists fintechs, sports clubs, retailers and brands among its intended customers. A free plan and trial are listed, while other pricing is available on request. For regulated services, customers contract with PayrNet, Railsr’s wholly owned subsidiary; Railsr provides technology services. Railsr says new agents or distributors cannot be onboarded without prior written FCA consent.