TrueLayer secures latest funding round

21 Sep 2021

Open Banking platform TrueLayer has raised $130 million to further its growth plans through Open Banking Payments which lands them in the $1b+ valuation club.

The latest round comes hot on the heels of a $70 million raise in April 2021.
The Open Banking player has seen 400% growth in monthly volume and 800% growth in monthly value, as they expand across Europe, doubling its customer base.

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.”