TRUELAYER
8.4.2021 10:02:07 CEST | Business Wire | Press release
TrueLayer , Europe’s leading open banking platform, today announced it has secured a $70m Series D investment round led by new investor Addition. The latest raise reflects the growing demand for its open banking-based services and marks another significant milestone for TrueLayer on its mission to open up finance, building an open banking network that brings together payments, financial data, and identity to redefine how people spend, save, and transact online.
Existing investors, including Anthemis Group, Connect Ventures, Mouro Capital, Northzone, and Temasek, also participated, with a significant increase to the company’s valuation. Additional investors in the round include Visionaries Club, Surojit Chatterjee (CPO Coinbase), Zack Kanter (CEO Stedi), Daniel Graf (ex-Uber, Google, Twitter) and David Avgi (ex-CEO SafeCharge, CEO UniPaaS). It brings the total investment to date in TrueLayer to $142m.
The new funding will be used to fuel global expansion and accelerate the development of premium open banking-based services that will continue to drive innovation and revenue growth for clients. It will also be used to expand TrueLayer’s engineering, product and commercial teams to meet the increasing global demand for its open banking platform.
TrueLayer’s API-first platform accounts for more than half of all open banking traffic in the UK, Ireland and Spain, processing billions of pounds in payments. It powers services for some of Europe's fastest-growing brands, including Revolut, Trading 212 and Payoneer.
TrueLayer has a market-leading payment conversion rate that is 22% higher than other providers, according to OpenBanking UK and other bank sources, and up to 40% higher than cards. Merchants offering TrueLayer as a payment method in their checkout have found that on average, 1 in 3 consumers chose to pay via TrueLayer. As a result, open banking is displacing other payment methods, such as cards, as the default payment option online.
Over the past 12 months, TrueLayer has expanded its services across 12 European markets, growing payment volumes by 600x, and adding hundreds of new customers across digital banking, eCommerce, trading and investment, wealth management, crypto and iGaming. It has continued to innovate, for example, with the recent launch of PayDirect, combining instant pay-in capabilities with instant pay-outs, to deliver a higher converting, lower fraud method for online payments.
“When Luca and I started TrueLayer in 2016, we imagined open banking becoming a new digital channel for solving cost and complexities around payments, digital identity, credit data and much more. We wanted to open up this newly built infrastructure to many businesses and consumers. It is such a joy to see our vision coming alive and open banking based payments quickly becoming the new normal,” commented Francesco Simoneschi, CEO and Co-Founder at TrueLayer.
TrueLayer is rapidly expanding as demand for its open banking platform increases, largely driven by consumer demand for digital financial services that work better for them, and give them more control over their financial lives.
“We have achieved this milestone thanks to the hard work of our stellar team. Bringing radical new products into the hands of consumers and businesses is incredibly exciting,” explained Luca Martinetti, Co-Founder and CTO at TrueLayer. “This new financial network we are building on top of open architectures has massive long term implications for the whole fintech ecosystem and we won’t compromise our vision in any way.”
“That is why it is so important to select investors that can help you to plan for the next 15 years, not the next 15 months,” added Simoneschi. “The Addition team thinks very long term and it has been such a pleasure working together. They complement the incredibly strong group of experienced backers who align with our vision of how financial services are evolving.”
Lee Fixel, Founder of Addition, commented: “TrueLayer is ideally positioned to benefit from the trends shaping the future of financial services as more and more companies embed digitally native payments into their platforms. We look forward to supporting the TrueLayer team as they scale their offering and drive continued innovation.”
--ends--
About TrueLayer
TrueLayer provides global financial connectivity through open APIs. Our open banking platform empowers engineers, innovators and enterprises in every industry to create smarter financial services. Founded in 2016, TrueLayer is connected to major banks globally, backed by leading investors including Addition, Tencent, Temasek, Northzone, Anthemis Group, Mouro Capital and Connect Ventures, and trusted by some of the biggest names in fintech including Revolut, Trading 212 and Payoneer.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005064/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Smiths Detection Celebrates Sale of its 2,000th HI-SCAN 6040 CTiX 3D X-ray Scanner12.3.2026 10:00:00 CET | Press release
Major milestone reinforces Smiths Detection’s position as the world’s most trusted provider of advanced screening solutions, deployed at more than 100 airports Smiths Detection, a global leader in threat detection and screening solutions, today announces the sale of its 2,000th HI-SCAN 6040 CTiX, an industry-leading 3D X-ray scanner with high-resolution 3D computed tomography images and intelligent AI-driven automatic detection capabilities. The HI-SCAN 6040 CTiX is deployed across over 100 airports in Europe, Asia-Pacific, the Middle East and the Americas. Operational experience across these regions has demonstrated consistent benefits for airports and passengers alike. Fewer false alarms mean faster, more reliable screening, and as threat profiles change, the technology keeps pace, strengthening security resilience over time. Meanwhile, in eligible locations, passengers no longer need to remove laptops or liquids from their bags, a small change that has a real impact on congestion at
Egon Zehnder and IMD Join Forces to Boost Board Performance and Leadership Growth12.3.2026 09:00:00 CET | Press release
Egon Zehnder, the world’s premier leadership advisory and executive search firm, and IMD, the leading business school in global executive education, today announced a strategic partnership to facilitate board directors’ personal growth and elevate board performance. The partnership combines IMD's academic rigor and deep connections to global boards with Egon Zehnder's unparalleled expertise in leadership and board effectiveness. Together, they will co-create tailored development experiences that blend research, real-world diagnostics, and practical guidance to support directors navigating today's complex business environment. IMD’s research clearly shows that good governance is a driver of both corporate success and national competitiveness. Egon Zehnder’s global work in supporting the personal development of board directors and chairs has shown that, in times of accelerating change, this has become a decisive factor for success. “This collaboration comes at a pivotal moment,” said Dav
COOLMAX CloakFX™ Fiber Makes Official Global Debut at Performance Days Munich12.3.2026 09:00:00 CET | Press release
The LYCRA Company’s latest innovation minimizes the visible appearance of sweat while delivering moisture management to activewear, ready-to-wear and workwear The LYCRA Company will officially launch COOLMAX CloakFX™ fiber globally at Performance Days Munich, Europe’s leading functional fabric fair, March 18–19. This innovation is designed to help garments appear drier by minimizing visible sweat marks while delivering moisture management and cooling comfort. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317950119/en/ COOLMAX CloakFX™ fiber, the latest innovation from The LYCRA Company, helps garments appear drier by minimizing visible sweat marks and delivering moisture-wicking, cooling performance. Photo credit: The LYCRA Company COOLMAX CloakFX™ fiber is for brands, mills, and garment makers creating performance-driven activewear, workwear, and everyday apparel. The technology diffuses light at the fiber level using o
EcoOnline Launches Mega Trends Report as 2025 Momentum Reflects the Shift from Compliance to Connected Risk12.3.2026 09:00:00 CET | Press release
Eighteen months of EcoOnline primary research highlights seven shifts reshaping safety and sustainability, mirrored in the company’s 2025 customer adoption, product innovation, and growth. EcoOnline, a leading global provider of safety and sustainability software, today announced its inaugural EcoOnline Mega Trends Report, based on 18 months of primary research with business leaders and frontline workers. Seven mega trends reshaping the risk landscape The findings show a market-wide sense of urgency and shift towards connected risk data and vendor consolidation, with organisations increasingly treating compliance as the baseline while prioritising improved operations visibility, faster decision-making, and a need to future-proof their businesses with real-time insights and operational readiness. The report outlines seven macro trends, from the chemical safety maturity gap and the rise of lone work and contractor reliance to the central role of training and frontline engagement, and the
Redslim expands into Asia-Pacific to support global brands with data and AI infrastructure12.3.2026 07:00:00 CET | Press release
Redslim, a specialist in end-to-end data management solutions and an Astorg portfolio company, today announced its expansion into the Asia-Pacific region and the appointment of Kyriakos Zannikos as Regional Director, APAC. The move marks an important milestone in Redslim’s global growth strategy and brings the company closer to clients operating in one of the world’s fastest-growing and most data-driven consumer markets. As global consumer brands accelerate digital transformation and AI adoption, many organizations still struggle with fragmented data ecosystems spanning multiple agencies, markets and datasets. These challenges are particularly pronounced in Asia-Pacific, where diverse market structures and rapid growth create complex data environments. Redslim helps organizations transform fragmented market information into valuable data assets, empowering clients to make confident decisions and unlock the full value of their data. By building strong data foundations, Redslim supports
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom