TrueLayer raises $70M for its open banking platform

by RJ Shara | Apr 8, 2021 | Fundings and Exit, Startups

TrueLayer, the London start-up that offers a developer-friendly platform for companies, including other fintechs, to utilise open banking, is disclosing $70 million in new financing. The Series D round is led by new financier Addition. Existing investors, consisting of Anthemis Group, Connect Ventures, Mouro Capital, Northzone and Temasek, also took part. New investors include Visionaries Club, Zack […] Over the years, TrueLayer CEO and co-founder Francesco Simoneschi and I have frequently pontificated on what open banking’s killer use case or usage cases might turn out to be.”We believe open banking payments will end up being the default method to pay online, replacing other payment methods in the next 5 years, “says Simoneschi.”Open banking is digitally native and mobile-first, moving money at a fraction of the expense, securely and easily, while also delivering a significantly better customer experience “. Open banking payments as a checkout choice advantages merchants too, argues Simoneschi. …