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
Netceed Strengthens Board with Global Infrastructure and Technology Leaders1.4.2026 14:00:00 CEST | Press release
Netceed, a global leader in delivering supply chain solutions across broadband, data center and energy infrastructure, today announced the appointment of Franck Bruel, Jan Frykhammar and Stacey Thompson to advise as strategic advisors to its Board of Directors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260401045867/en/ Franck Bruel Following the recently announced recapitalization of the Netceed Group and under the chairmanship of Rajeev Suri, the company is strengthening its Board with globally recognized leaders across telecommunications infrastructure, industrial distribution, energy infrastructure and hyperscale technology. Collectively, the new appointees bring decades of leadership experience across some of the world’s most influential infrastructure and technology companies, reflecting Netceed’s ambition to play a leading role in the next generation of global digital, AI and energy infrastructure. Rajeev Suri, Ch
Vertex Announces US FDA Approval for Label Extensions of ALYFTREK® and TRIKAFTA®, Expanding Availability of These Medicines to ~95% of All People With CF in the United States1.4.2026 13:30:00 CEST | Press release
-With this expansion, any variant that results in production of CFTR protein is now included in the indication for ALYFTREK and TRIKAFTA, reinforcing the impact these medicines have, regardless of the location of the variant in the CFTR protein--Approximately 800 more people with CF in the US are now eligible for a CFTR modulator for the first time- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced the U.S. Food and Drug Administration (FDA) has approved expanded use of ALYFTREK® (vanzacaftor/tezacaftor/ivacaftor) for the treatment of people with cystic fibrosis (CF) ages 6 and older with a variant in the cystic fibrosis transmembrane conductance regulator (CFTR) gene that is either responsive based on clinical and/or in vitro data or results in production of CFTR protein. Additionally, the U.S. FDA has also expanded the indication statement for TRIKAFTA® (elexacaftor/tezacaftor/ivacaftor and ivacaftor) in patients ages 2 and older. This label expansion was supported b
Agenus Announces First Patient Enrolled in Global Phase 3 BATTMAN Trial of BOT+BAL Immunotherapy Combination in MSS or pMMR Metastatic Colorectal Cancer1.4.2026 13:30:00 CEST | Press release
A Landmark Registrational Study Aiming to Redefine Outcomes in MSS mCRC Which Represents Approximately 95% of Metastatic Colorectal Cancer CasesColorectal Cancer Has Become the Leading Cause of Cancer-related Death in Adults Under Age 50 Agenus Inc. (Nasdaq: AGEN), a leader in immuno-oncology innovation, today announced that the first patient has been enrolled in the landmark global phase 3 BATTMAN (CO.33) trial (NCT07152821). This study is evaluating Agenus’ immunotherapy combination of botensilimab (BOT) plus balstilimab (BAL) versus best supportive care in patients with refractory, unresectable microsatellite stable (MSS)/mismatch repair proficient (pMMR) metastatic colorectal cancer (mCRC), a population long considered resistant to immunotherapy. This study is being conducted as a cooperative group trial led by the Canadian Cancer Trials Group (CCTG) from Canada and run across Canada, France, Australia and New Zealand. More than 100 sites will participate across the academic cooper
Klarna Agrees to $1.7 Billion Transaction Supporting up to $40B+ of Lending1.4.2026 13:19:00 CEST | Press release
Klarna, the global digital bank and flexible payments provider, has entered into a new capital efficiency transaction in the form of a Significant Risk Transfer (SRT), covering $1.7 billion-worth of Euro denominated loans and freeing up capital to support continued growth. Klarna has entered into a three-year agreement with a consortium led by Värde Partners. This is Klarna's sixth SRT transaction and improves how effectively Klarna deploys its capital on a global basis. "Our banking license is one of our biggest competitive advantages," said Niclas Neglén, Klarna's Chief Financial Officer. "This is our largest and most efficient SRT transaction to date. These transactions allow us to maximize every unit of capital to support our continued momentum." The transaction follows Klarna’s recently announced $2 billion facility supporting $17B of US Financing expansion. About Klarna Klarna is a global digital bank and flexible payments provider. With over 118 million global active Klarna user
Americhem Launches nDryve™: PFAS-Free In-Melt Technology Platform for Functional Fibers1.4.2026 13:00:00 CEST | Press release
Americhem, Inc., a global polymer solutions provider, today announced the launch of nDryve™, a PFAS-free, in-melt surface-modifying technology platform designed to deliver durable multi-fluid repellency against alcohol and other low-surface-energy fluids in fiber systems. As global regulations accelerate the phase-out of per- and polyfluoroalkyl substances (PFAS), manufacturers are under increasing pressure to maintain barrier performance without fluorinated chemistries. nDryve™ was developed to address this shift, offering a PFAS-free, in-melt alternative to conventional surface applied treatments. Engineered for Performance Without PFAS Often referred to as “forever chemicals,” PFAS have come under heightened regulatory scrutiny due to their persistence and potential environmental and health impacts. nDryve™ integrates directly into the polymer during melt processing, embedding surface-modifying functionality within the fiber matrix rather than relying on removable finishes. By engin
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