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:

About Author

Saipriya Iyer linkdin-boxtwitter

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

Post Recommendents

Antenatal Screening Market Share, By Product Analysis, Application, End-Use, Regional Outlook, Competitive Strategies & Forecast up to 2028

Author: Ashwin Naphade

Global Antenatal Screening Market, 2022-2028 Research Report provides crucial statistics on the market status of the Global Antenatal Screening manufacturers and is a respected source of guidance and direction for companies and individuals interes...

Pediatric Vitrectomy Market Size | Global Industry Analysis, Segments, Top Key Players, Drivers and Trends to 2028

Author: Ashwin Naphade

Global Pediatric Vitrectomy market report provides major statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

The Pediatric Vitrectomy market repor...

Legionnaire Disease Testing Market Comprehensive Analysis, Share, Growth Forecast from 2022 to 2028c

Author: Ashwin Naphade

This report studies the Global Legionnaire Disease Testing market status and outlook of global and major regions, from angles of players, regions, product types and end industries; this report analyzes the top players in global and major regions, ...