Open Banking provider TrueLayer raises $25m in extra funding

Funding Rounds

▤ Summary

Fresh funding has been secured by financial API group Truelayer in a $25m Series C round led by its existing investors. Anthemis, Connect Ventures, Northzone and Temasek joined the fintech’s latest raise, which CEO and co-founder Francesco Simoneschi said would be used to bolster TrueLayer’s “engineering, design and commercial talent”. “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.” Simoneschi pointed to sectors like trading, where TrueLayer recently signed a partnership with Freetrade, and online gaming as two areas of growing interest for open banking APIs. Last week AltFi exclusively reported that TrueLayer’s commercial and operations chief Shefali Roy is departing, and the company is not currently looking to replace her.

$ Funding

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Amount $25.0M Total raised
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Date September 21, 2020 Announcement date
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Investors - Lead investors
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Company https://truelayer.com/ Funded company

▥ Classifications

industries
Fintech & Banking
applications
Governance, risk and compliance

◇ AskAI Classifications

Labels
Financial Technology Payment Solutions Software Development

▦ Linked Companies

TrueLayer
$10M to $25M