TrueLayer secures £50.4m in Series D funding led by Addition to expand its open banking network
The Series D round was led by Addition and will fund international expansion and product development.
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 raised £50.4m in a Series D funding round led by Addition. The investment includes participation from existing backers such as Anthemis Group, Connect Ventures, Mouro Capital, Northzone, and Temasek, alongside several individual and institutional participants.
The capital will support the company as it scales its operations internationally and enhances its suite of open banking products. TrueLayer plans to direct the proceeds towards team expansion across engineering, product, and commercial divisions to meet growing customer demand.
From the founder
"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"
Francesco Simoneschi
Co-founder & CEO at TrueLayer
Investor perspective
"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"
Lee Fixel
Addition
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Grow the team
Investors
Lee Fixel
Addition
Anthemis Group
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Connect Ventures
Mouro Capital
Northzone
Temasek
Visionaries Club
Surojit Chatterjee
Zack Kanter
Daniel Graf
David Avgi
