Fintech firm TrueLayer raises $25 million in Series C financing round
Date: 2020-09-23   Author: Saipriya Iyer  Category: #news

Fintech firm TrueLayer raises $25 million in Series C financing round

TrueLayer, a UK-based financial API provider, has recently raised a Series C financing round worth $25 million. The latest investment will take the total funding amount secured by the company to $72 million.

Headquartered in London, United Kingdom and founded in 2016, TrueLayer has been functioning as a technology company that caters to customers by offering a secure, global access to the financial infrastructure. Several developers across the globe have leveraged its APIs to develop products that securely initiate payments and access data in real-time.

The team at TrueLayer has reportedly stated that the company’s platform is designed to build financial apps that connect to the bank data. It has been operating under the support of leading venture capital and is a trusted partner of a few fintech companies such as Zopa, Revolut, and Monzo.

In 2018, TrueLayer revealed that it had become one of the companies in the UK to be authorized & registered by the FCA (Financial Conduct Authority). The registration will pave the way for the company to offer account information & payment initiation services under the second Payment Services Directive (PSD2) and Open Banking.

The TrueLayer team further commented on the funding round’s  objective to allow the company to deepen the financial connectivity for customers, which will, in turn, surge the new financial services development in untapped regions as well as ensure that people gain more control of their finances.

In addition, the team is planning to expand its footprint across 3 continents over the next few years and innovate core open banking infrastructure to ensure the delivery of payouts, e-wallets, and other new services to customers. The company has expressed its excitement at teaming up with top and high profile global organizations & investors that are aligned with its long-term growth strategy. Its services are currently available in Australia, Europe, and the UK.

Source credit:

https://www.crowdfundinsider.com/2020/09/167033-truelayer-secures-25-million-through-series-c-investment-round/



About Author


Saipriya Iyer

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

More from Saipriya


Post Recommendents

Hip Osteoarthritis Pain Drug Market Growth Projection from 2021 to 2026
Author: Sachin Pashte

A collective analysis on ' Hip Osteoarthritis Pain Drug market' is covered in this new research, available at Market Study Report, LLC, that offers an exhaustive study based on current trends influencing this vertical throughout assorted g...


Spine Osteoarthritis Pain Drug Market Report, Growth Forecast, Industry statistics Till 2026
Author: Sachin Pashte

A concise assortment of data on ' Spine Osteoarthritis Pain Drug market' is covered in a newly published research added to the repository of Market Study Report, LLC. It offers an exhaustive study targeting current market trends influencin...


Osteoarthritis Pain Solution Market Emerging Trends, Strong Application Scope, Size, Status, Analysis and Forecast to 2026
Author: Sachin Pashte

A detailed research on ' Osteoarthritis Pain Solution market' recently added by Market Study Report, LLC, puts together a concise analysis of the growth factors impacting the current business scenario across assorted regions. Significant i...