Railsr hires new CEO as part of trio of executive appointments

Embedded finance platform Railsr has made a trio of executive appointments, following its recent sale to a consortium of investors.

Philippe Morel has been appointed as chief executive officer of Railsr, and will report directly to Rick Haythornthwaite, chair of the board.

He was previously chief executive officer of SETL, a role he held for four years, until it was acquired in early 2023.

He is joined by new chief financial officer Debbie Lotz and Nick Charteris, Railsr’s incoming chief operating officer.

In March, Railsr was purchased and re-capitalised by Embedded Finance Limited, backed by global investors D Squared Capital, Moneta VC and Ventura Capital, securing the business’ future.

Haythornthwaite said: “This is a pivotal moment for Railsr and we are starting a new phase on the front foot. This triumvirate of executive appointments bring deep experience and renewed energy to rebuild momentum, drive change and return Railsr to growth.

“Together, we will tackle challenges constructively and methodically embrace opportunities to stabilise the business, strengthen market confidence and grow competitive advantage.”

Prior to SETL, Morel was global head of Boston Consulting Group’s Capital Markets Practice, EMEA leader for BCG Private Equity and Principal Investors Practice, and chair of the board of Expand.

“Philippe brings a potent combination of turnaround experience, strategic consulting and operational leadership, a set of skills which will lead the Railsr team and customers to success,” Haythornthwaite added.

Lotz, who recently relocated from Australia to the UK, most recently held the role of executive leading data risk governance at National Australia Bank, while Charteris rejoins Railsr, after a 12-month stint at Crypto.com as general manager.

He was previously global head of operations when he worked at Railsr before.

Morel added: “I am delighted to join Railsr as the company embarks on its new journey.

“I was very impressed by the technology, the team, both in London and Vilnius, and look forward to working with our clients and partners to take Railsr on the path to growth again.”

All three new hires join chief sales officer Louisa Murray, Suavek Zajac, chief technology officer and Ian Copley, chief client officer, as members of the Railsr executive committee.

Railsr was co-founded in 2016 by Nigel Verdon and Clive Mitchell in London.