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TrueLayer raises $25m

TrueLayer raises $25m

UK Open Banking startup TrueLayer has raised $25 million in a Series C funding round joined by Anthemis, Connect Ventures, Northzone and Temasek.

Founded in 2016, TrueLayer is one of a number of new ventures that have been launched as a result of the open banking initiative in that it provides a platform for fintechs, developers and retailers to access bank APIs and to securely share customers banking details.

The firm now accounts for more than half of all UK Open Banking traffic and has begun broadening its services to France, Italy, and Spain, and partnering with companies including Revolut, Nutmeg, and Freetrade to deliver open banking capabilities to millions across Europe.

Francesco Simoneschi, CEO, TrueLayer, says: "Our vision when we founded TrueLayer, where Open Banking is the default pipe to move money, instantly and safely, is becoming reality. This raise will help us on that journey to open up financial infrastructure, and enable access in new geographies and across new industries."

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