When Western Union, a 175-year-old company that invented accessible cross-border payments, calls you to help power its digital transformation, you know you’re doing something right.
For Miles Schwartz, CEO of Zūm Rails, landing Western Union was a sign that his company, which was built to reimagine how enterprises move money, was headed in the right direction. Western Union is one of dozens of clients that Zūm Rails signed in 2025, making a billion-dollar valuation within reach.
The last time I spoke to Schwartz was in 2024, when he had just moved to Miami to lead the company’s US expansion. At the time, we covered his unconventional leadership style and the personal qualities that helped him take Zūm Rails from his parents’ kitchen to a company that fintechs rely on to bypass banks and other payment barriers.
I caught up with Schwartz this month to get an update on Zūm Rails’ US expansion and what stands between the company and the goal it’s chasing.
Evolving leadership to match a scaling company.
For Schwartz, the biggest shift over the past year has been changing his role in the company from focusing on task execution to steering the ship.
“For the first four years we were in business, I was pushing forward with sheer will and grit – personally taking on whatever had to be done at any given moment to ensure our success,” he recently shared.
That leadership style worked when Zūm Rails was just getting off the ground, but Schwartz quickly realized it wasn’t sustainable as the company scaled. “I came to a point where I realized it wasn’t sustainable to be the hero in every situation, for myself or for my wider team,” he said.
As a result, he set out to fundamentally shift the company’s culture by giving individuals real autonomy over their work. Now, each team member understands their role within the context of the company’s larger vision, rather than simply executing tasks.
“We intentionally hire people with less experience but a strong desire to win and learn,” he explained. “This allows us to invest in and build talent with the right attitude and business acumen who are motivated to grow, not be micromanaged.”
Stepping out of the weeds has given Schwartz more time in his day to focus on what will actually drive Zūm Rails to a billion-dollar valuation, including its US expansion, building banking relationships, and deepening strategic partnerships.
Turning long-term thinking into momentum.
Schwartz’s strategy of stepping back has already proven successful. In 2025, Zūm Rails tripled its revenue while returning to cash-flow positive – all while continuing to invest in people and technology.
Beyond Western Union, Zūm Rails expanded some of its largest existing accounts and won new clients across multiple verticals, including financial services, pet services, real estate, and lending throughout the year.
Schwartz’s leadership philosophy extends to how he handles mistakes at the company as well. “I’ll never be upset at someone for making a mistake, even a big one,” he said. “I’m far more concerned about people who are afraid to take initiative and never make mistakes.”
This cultural shift gave Schwartz time back in his day to focus on the big picture, which is positioning Zūm Rails for sustained exponential growth. “I always put myself in the mindset to think three steps ahead of where we are today,” he explained. “This helps me not only manifest our growth, but also drives me to take us there.”
On the billion-dollar roadmap for 2026.
For Schwartz, ramping up the credit card issuance program will be what takes Zūm Rails from a mid-nine-figure company to a billion-dollar valuation. The card program was launched at the end of 2025, in partnership with Mastercard, and enables businesses to issue their own prepaid and credit cards that can be used anywhere Mastercard is accepted.
For businesses, it offers seamless expense management, faster wage access, consumer rewards, and spending flexibility, empowering businesses to interact with money in new ways and drive new business models.
This program will be the main driver for Zūm Rails’ upcoming growth. “To date, we already have over a dozen new card programs going live at the start of this year based on just contracts signed in Q4, and we are projecting to continue this momentum,” Schwartz said.
Early this year, Zūm Rails will also announce a major partnership across the US and Canada. Combined with the Mastercard partnership, this new initiative will enable Zūm Rails to power the entire credit card value cycle for clients – including credit card issuance and credit card payment acceptance.
For Schwartz, reaching a billion-dollar valuation is about expanding its card offering to even more companies and executing on the contracts already signed.
