Fintech TrueLayer Secures $70 Million

TrueLayer, a leading technology company providing secure, global access to financial infrastructure, announced that it has secured $70 million in Series D funding to help accelerate the launch of its flagship open banking network and solve deeper, more complex problems for customers.

According to the announcement, this investment round was led by Addition. Several new investors such as Visionaries Club, Surojit Chatterjee (CPO Coinbase), Zack Kanter (CEO Stedi), Daniel Graf (ex-Uber, Google, Twitter) and David Avgi (ex-CEO SafeCharge, CEO UniPaaS) joined the round along with all major existing investors.

Founded in 2016, TrueLayer has more than 3 million users in the UK. The company has expanded its operations across 12 markets in the last 12 months. According to the details mentioned in the announcement, the fintech firm is now processing more than half of the open banking volume in the UK, Ireland and Spain.

Francesco Simoneschi, Co-Founder and CEO of TrueLayer, commented: “Our mission at TrueLayer is to open up finance. We’re building an open banking network that brings together payments, data and identity to redefine how people spend, save and transact online. We’re doing this in a way that puts customers at the center, enabling the creators, the doers and the builders in every industry to reimagine finance and improve the fabric of our society.”