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TrueLayer joins the Unicorn club on $130 million funding round

TrueLayer joins the Unicorn club on $130 million funding round

UK Open Banking platform TrueLayer has raised $130 million with investment from Tiger Global and Stripe.

The latest round comes on top of a $70 million raise in April and propels TrueLayer into the coveted Unicorn club.

The funding round is the latest milestone for TrueLayer, which this year has experienced 400% growth in monthly payment volume and 800% growth in monthly payment value as the company expanded across Europe, doubled its customer base and rolled out a host of new products. The company now claims to account for more than half of all Open Banking traffic in the UK, Ireland and Spain.

Francesco Simoneschi, CEO and co-founder of TrueLayer, comments: "This new funding will allow us to bring Open Banking payments to new businesses, supercharging mainstream adoption through industries like ecommerce and subscriptions. So that every consumer will know the ease of paying straight from their bank account. Instant payments. No cards. No registration. No hassle. It means we can continue to innovate on top of open banking infrastructure, growing our engineering and product teams to meet the increasingly complex needs of our customers - from payouts, refunds and variable recurring payments to affordability checks and verification."

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