Author: Finextra

fintech funding open banking

TrueLayer raises $70 million in preparation for Open Finance moment

UK Open Banking platform TrueLayer has raised $70 million in a Series D fundraising round.The round was led by new investor Addition and included participation from a list of well-connected angel investors. It brings the company’s total fundraising to $142 million. Existing investors, including Anthemis Group, Connect Ventures, Mouro Capital, Northzone, and Temasek, also participated.

Founded in 2016 when Open Banking was just getting started, the company today processes more than half of the Open Banking volume in the UK, Ireland and Spain. Over the past 12 months the firm has expanded across 12 markets, growing payment volumes by 600%.

In January, TrueLayer launched its first payments product, providing firms with the ability to onboard customers and bypass card schemes using faster payment rails for account-to-account payouts and deposits.

Open Banking is set to extend its reach into new financial products under the umbrella term Open Finance, creating plenty of opportunities for growth says Francesco Simoneschi, TrueLayer CEO and co-founder

“We’ll be launching new Open Banking based capabilities this year and we’ll continue to expand our network, adding broader and deeper connectivity across Europe and beyond,” he says. “We believe that open banking is reaching maturity in several markets and the next phase is about solving bigger, more complex problems for our customers – layering value on top of the raw infrastructure. You’ll see us building more and more in this direction.”

Source: Finextra

Check out our blog here.

Recommended posts

FIBE_2025 | Fintech Berlin

FIBE fintech & finance festival announces first programme draft

Berlin, 15.1.2025 – FIBE fintech & finance festival has revealed its first programme draft, featuring speakers like former PayPal CEO Dan Schulman, N26 Co-Founder
MoneyLIVE Summit 2025

C-Suite Banking and Payment Leaders to Meet at MoneyLIVE Summit 2025

MoneyLIVE Summit, Europe’s most senior event for banking and payments professionals, will gather over 1500 industry leaders to discuss the future of finance.  
New podcast: An Interview with Tom van Wees and Roderick de Koning, CCO and CEO of Ginger Payments