TrueLayer raises £19.6m in Series C funding led by Anthemis to expand its open banking platform
The financing round was led by Anthemis with participation from Connect Ventures, Northzone, and Temasek.
TrueLayer provides an open banking platform that allows businesses to process payments and access financial data. The company operates across the UK, Europe and Australia.
TrueLayer has secured £19.6m in Series C funding to support its ongoing expansion and platform development. The round was led by Anthemis, with continued participation from existing backers including Connect Ventures, Northzone, and Temasek.
The capital arrives as the company extends its European footprint into France, Italy, and Spain, alongside opening an office in Milan. TrueLayer has experienced substantial growth in transaction volumes and broadened its product suite with offerings such as the Insights API during 2020.
Founded in 2016, the London-based business has established a prominent position within the open banking sector. The fresh injection of resources will assist the firm in scaling its engineering, design, and commercial operations while pursuing further geographical reach.
From the founder
"Our vision when we founded TrueLayer, where Open Banking is the default pipe to move money, instantly and safely, is becoming reality. This raise will help us on that journey to open up financial infrastructure, and enable access in new geographies and across new industries."
Francesco Simoneschi
Co-founder & CEO at TrueLayer
Use of funds
- 01Grow the team
- 02Expand into international markets
- 03Continue product development
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