UK open banking platform TrueLayer has expanded to five new European markets.
TrueLayer's open banking data and payments infrastructure now reaches Austria, Belgium, Denmark, Finland and Portugal.
The UK company says it has also increased connectivity in existing markets including the Netherlands and Spain, and as a result, added hundreds of new banks across a total of 16 European markets.
Ticking through the new market openings, TrueLayer now provides data and payments connectivity to the 20 largest banks in Portugal, 29 banks in Austria, 18 in Belgium, 50 institutions in Belgium, and five banks in Finland.
“Working with our clients expanding across Europe, we know how important high quality connectivity is to harness the full potential of open banking," says Joe Morley, CEO Europe at TrueLayer. “We’re continuing that model as we extend connectivity across Europe with the addition of hundreds of banks across these new markets. The result is a superior developer experience for our clients and a more reliable service for their customers.”
The expansion across Europe follows on from a $130 million fund raise in September, with investment from Tiger Global and Stripe, that propelled TrueLayer into the coveted Unicorn club.