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
Carta Launches Unified Fund of Funds Solution to Automate LP Workflows and Portfolio Visibility24.3.2026 11:01:00 CET | Press release
New AI-powered offering closes the gap between investment data and investor reporting, bringing institutional-grade automation to complex Fund of Funds structures Carta, the world’s first fully interconnected system for private capital, today announced its solution for Fund of Funds, a new offering designed to help managers automate LP reporting, eliminate manual document processing, and gain clearer visibility into their underlying portfolio exposure. The product expands a critical link in Carta’s ERP for private capital, bringing LP investment data, fund accounting, and portfolio analytics onto a single platform, while more deeply connecting allocators with the GP ecosystem. Fund of Funds represents a critical and growing segment of the private capital ecosystem, projected to reach $450 billion by 2033 as investors seek diversified exposure to private markets. Yet, operating a fund of funds remains highly complex. Managers sit at a unique intersection of the ecosystem, investing as L
Meeting Rising AI Expectations and Removing Friction Key to Meeting Needs of B2B Buyers Across Europe24.3.2026 11:00:00 CET | Press release
8 in 10 buyers use AI in payments, but strategic integration remains uneven and caution abounds in France and GermanyPay by invoice, a core European expectation, a major growth lever in 2026, but payment preferences vary by country and company size According to a new European study1 of 550 business buyers commissioned by TreviPay, the global B2B payments invoicing and payments network, friction in the B2B buying process in the form of slow onboarding and inconsistent invoicing along with rising expectations for AI-enabled processes are where businesses are experiencing threats to loyalty beyond price. “Across Europe and the UK, finance teams are navigating economic pressure, regulatory complexity and rising buyer expectations,” said Inez Berkhof-Hollander, TreviPay’s Vice President of EMEA. “Our research shows payment and invoicing experiences now play a decisive role in supplier selection.” Top Three European Market Expectations in 2026 1. More AI-driven purchasing options vary by cou
OCTO and Volkswagen Group Info Services AG Form Partnership for Fleet Data Integration24.3.2026 10:00:00 CET | Press release
The partnership enables secure integration of vehicle data from six Volkswagen Group brands into OCTO’s platform, strengthening fleet data services across the European Union and supporting utilization, maintenance and geo-location use cases without additional hardware. OCTO, a leading company in the field of telematics, data analytics and AI-driven solutions for insurance and fleet management, announces a strategic partnership with Volkswagen Group Info Services AG. The goal of this cooperation is to expand data solutions for fleet operators by directly integrating vehicle data from the brands Volkswagen Passenger Cars, Volkswagen Commercial Vehicles, Škoda, Seat, Cupra and Audi. Through this partnership, OCTO gains direct access to vehicle data from fleet vehicles of these six Volkswagen brands. This enables innovative mobility services for fleet managers, including maintenance management, theft protection, damage management, fraud detection, driving behavior analysis, activity report
Wolters Kluwer-undersøgelse: Danske SMV'er er førende i Europa inden for AI-drevet omkostningsbesparelser24.3.2026 10:00:00 CET | Pressemeddelelse
Høj reguleringsparathed og pragmatisk teknologiimplementering hjælper virksomheder med at skabe afkast, selvom finansieringsbegrænsningerne vokser Wolters Kluwer Tax & Accounting har i dag offentliggjort sin første rapport Future Ready Businessder viser, at danske små og mellemstore virksomheder (SMV'er) er de mest tilfredse i Europa med AI-drevet omkostningsbesparelser. Blandt SMV'er, der bruger AI, siger 65 %, at det har overgået forventningerne til omkostningsreduktion, hvilket er det stærkeste resultat på tværs af alle EU-markeder, langt foran lande som Tyskland og Spanien. Undersøgelsens resultater tegner et kontrastfyldt billede af markedet, hvor danske SMV'er kombinerer høj reguleringsparathed og en stærk præference for strategisk outsourcing med et stigende pres fra stigende omkostninger og begrænset adgang til kredit. "AI i Danmark implementeres med et klart forretningsmæssigt formål, ikke som en teknologisk trend," siger Martin Tage, Country Manager, Wolters Kluwer Tax & Acco
Mosaic Therapeutics to Present Poster Highlighting Preclinical Data for Lead Program MOS101 at the American Association for Cancer Research (AACR) Annual Meeting 202624.3.2026 09:30:00 CET | Press release
First preclinical data on the Company’s lead program MOS101: a combination of ASTX295, a next-generation, clinical-stage MDM2 antagonist, and olaparib, an FDA-approved PARP inhibitor, in biomarker-selected solid tumorsAdditional data showcasing Mosaic’s Discovery Platform, PRIME, will be presented Mosaic Therapeutics, Ltd, (‘Mosaic’, or ‘the Company’) a clinical-stage oncology therapeutics company building the category leader in Synergistic Precision Oncology, today announced it will hold a poster presentation at the American Association for Cancer Research (AACR) Annual Meeting 2026, taking place April 17-22 in San Diego, CA. Poster Presentation Details: Title: "Combination of the MDM2 antagonist ASTX295 and olaparib as a novel treatment option for BRCA2 mutant, TP53 wild-type solid tumors” Abstract Number: 3053 Date and Time: Monday, April 20, 2026, 2:00PM – 5:00PM PST Session Category: Novel Targets and Pathways Session: PO.ET09.09 Location: Poster Section 15 For more information an
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