TrueLayer Raises $70m to Build the World’s Most Valuable Open Banking Network
TrueLayer, Europe’s leading open banking platform, today announced it has secured a $70m Series D investment round led by new investor Addition. The latest raise reflects the growing demand for its open banking-based services and marks another significant milestone for TrueLayer on its mission to open up finance, building an open banking network that brings together payments, financial data, and identity to redefine how people spend, save, and transact online.
Existing investors, including Anthemis Group, Connect Ventures, Mouro Capital, Northzone, and Temasek, also participated, with a significant increase to the company’s valuation. Additional investors in the round include Visionaries Club, Surojit Chatterjee (CPO Coinbase), Zack Kanter (CEO Stedi), Daniel Graf (ex-Uber, Google, Twitter) and David Avgi (ex-CEO SafeCharge, CEO UniPaaS). It brings the total investment to date in TrueLayer to $142m.
The new funding will be used to fuel global expansion and accelerate the development of premium open banking-based services that will continue to drive innovation and revenue growth for clients. It will also be used to expand TrueLayer’s engineering, product and commercial teams to meet the increasing global demand for its open banking platform.
TrueLayer’s API-first platform accounts for more than half of all open banking traffic in the UK, Ireland and Spain, processing billions of pounds in payments. It powers services for some of Europe's fastest-growing brands, including Revolut, Trading 212 and Payoneer.
TrueLayer has a market-leading payment conversion rate that is 22% higher than other providers, according to OpenBanking UK and other bank sources, and up to 40% higher than cards. Merchants offering TrueLayer as a payment method in their checkout have found that on average, 1 in 3 consumers chose to pay via TrueLayer. As a result, open banking is displacing other payment methods, such as cards, as the default payment option online.
Over the past 12 months, TrueLayer has expanded its services across 12 European markets, growing payment volumes by 600x, and adding hundreds of new customers across digital banking, eCommerce, trading and investment, wealth management, crypto and iGaming. It has continued to innovate, for example, with the recent launch of PayDirect, combining instant pay-in capabilities with instant pay-outs, to deliver a higher converting, lower fraud method for online payments.
“When Luca and I started TrueLayer in 2016, we imagined open banking becoming a new digital channel for solving cost and complexities around payments, digital identity, credit data and much more. We wanted to open up this newly built infrastructure to many businesses and consumers. It is such a joy to see our vision coming alive and open banking based payments quickly becoming the new normal,” commented Francesco Simoneschi, CEO and Co-Founder at TrueLayer.
TrueLayer is rapidly expanding as demand for its open banking platform increases, largely driven by consumer demand for digital financial services that work better for them, and give them more control over their financial lives.
“We have achieved this milestone thanks to the hard work of our stellar team. Bringing radical new products into the hands of consumers and businesses is incredibly exciting,” explained Luca Martinetti, Co-Founder and CTO at TrueLayer. “This new financial network we are building on top of open architectures has massive long term implications for the whole fintech ecosystem and we won’t compromise our vision in any way.”
“That is why it is so important to select investors that can help you to plan for the next 15 years, not the next 15 months,” added Simoneschi. “The Addition team thinks very long term and it has been such a pleasure working together. They complement the incredibly strong group of experienced backers who align with our vision of how financial services are evolving.”
Lee Fixel, Founder of Addition, commented: “TrueLayer is ideally positioned to benefit from the trends shaping the future of financial services as more and more companies embed digitally native payments into their platforms. We look forward to supporting the TrueLayer team as they scale their offering and drive continued innovation.”
--ends--
About TrueLayer
TrueLayer provides global financial connectivity through open APIs. Our open banking platform empowers engineers, innovators and enterprises in every industry to create smarter financial services. Founded in 2016, TrueLayer is connected to major banks globally, backed by leading investors including Addition, Tencent, Temasek, Northzone, Anthemis Group, Mouro Capital and Connect Ventures, and trusted by some of the biggest names in fintech including Revolut, Trading 212 and Payoneer.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210408005064/en/
Contact information
Geoff Whitehouse
PR and Communications Lead
geoff.whitehouse@truelayer.com
+44 (0)7766 555077
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
TreviPay Powers Walmart Business Pay By Invoice Offering16.9.2025 14:00:00 EEST | Press release
TreviPay, a fully managed B2B payments platform, has collaborated with Walmart Business to launch the next phase of the retailer’s Pay By Invoice program. The program enables eligible business customers to access a line of credit with 30-day net terms, powered by TreviPay’s next-generation payments and A/R automation technology. The offering is available for purchases online, in the Walmart Business app or in-store. A study of 300 global business buyers, conducted by Murphy Research for TreviPay, found 85% of buyers want the option to pay on net terms and are likely to buy more when they can pay this way. TreviPay’s Pay by Invoice offering enables buyers to defer payment, receive detailed invoices for streamlined recordkeeping and procurement, and manage cash flow more effectively. “The biggest opportunity in retail now is in B2B. Companies that capture this valuable segment will win with flexible payment options that integrate directly into the buying experience and maintain efficienc
Areteia Therapeutics Announces Positive Topline Results from the First Phase III Study of Oral Dexpramipexole in Eosinophilic Asthma16.9.2025 14:00:00 EEST | Press release
Areteia Therapeutics, Inc. (“Areteia”) today announced positive results from the Phase III EXHALE-4 efficacy and safety study of dexpramipexole as an add-on oral therapy in participants with eosinophilic asthma. “More than half of people with asthma have the eosinophilic subtype, yet there remains a profound need for easily administered oral treatment options that can help address their symptoms, which are often severe,” said Ian Pavord, MA, DM, Professor of Respiratory Medicine at the University of Oxford, UK and a member of Areteia’s Scientific Advisory Board. “Initial results from the Phase III EXHALE-4 study are extremely promising, particularly the statistically significant improvement in lung function and the reduction in eosinophils observed with dexpramipexole versus placebo, which show the potential for dexpramipexole to become the first oral treatment approved for eosinophilic asthma.” “We are pleased to report positive topline results for the EXHALE-4 Phase III study, which
NIQ Joins the Decentriq Network to Enable Secure Data Collaboration for Marketers and Agencies Across Europe16.9.2025 13:00:00 EEST | Press release
NIQ, a leading consumer intelligence company, is entering a strategic relationship with Decentriq to enable data collaboration for media use cases across Europe. Through the relationship, NIQ’s high quality consumer insights, including digital purchase data, will be available in Decentriq’s privacy-preserving clean rooms for the first time, enabling advertisers and agencies to utilize the data for audience profiling and closed loop measurement. Expanding beyond shopper insights NIQ is expanding its services to the data and media ecosystem through privacy-persevering clean rooms, opening up new opportunities for marketing and advertising agencies to enrich their first-party data insights, inform audience strategies, and measure sales outcomes. As Pierre Cholet, Chief Customer Officer at Decentriq, explains, “NIQ has long been a trusted name in understanding consumer purchasing behavior. Now, by integrating their data into Decentriq’s clean room, advertisers and agencies can leverage thi
Businesses Scale Transformation to Meet Regulatory, Technology and Customer Challenges, Finds Arthur D. Little Global Research16.9.2025 12:45:00 EEST | Press release
Transformation is now a way of life for global companies, with two-thirds (65%) undergoing wide-reaching or expanding organization-wide transformation initiatives. This is driven by regulatory change (including tariffs), technological disruption, and shifting customer needs, all of which are rated at 4.1/5 in importance. Confidence levels are high, with 95% expecting initiatives to deliver success, according to the inaugural Arthur D. Little (ADL) Global Transformation Study. Time frames vary significantly between regions. 71% have a four-to-six-year window for transformation, with 32% focused on five years. However, average timelines range from 3.2 years in North America to 4.9 years in the Middle East and 5.5 years in Asia-Pacific. There are also significant differences between who leads transformation efforts globally. While a third (32%) of companies have a Chief Transformation Officer (CTrO), adoption varies considerably by region. 53% of European companies have a CTrO, compared w
Reply Achieves the AWS Advertising and Marketing Technology Competency Thanks to the Contribution of the Data Reply and Storm Reply Teams16.9.2025 11:40:00 EEST | Press release
Reply [EXM, STAR: REY] has achieved the AWS Advertising and Marketing Technology Competency, the official recognition from Amazon Web Services certifying advanced technical and project expertise in the design and delivery of advertising and marketing solutions on AWS. This milestone was made possible thanks to the joint contribution of Storm Reply and Data Reply, both part of the Reply Group, with solid expertise in implementing cloud-native and data-driven solutions on the AWS platform. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250916374888/en/ With this certification, Reply’s companies specialized in AWS services further consolidate their role as trusted technology partners for organizations looking to evolve their marketing and communication strategies through the advanced use of AWS cloud and AI technologies. The AWS Advertising and Marketing Technology Competency validates the ability of AWS Partners to deliver hig
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom