TrueLayer has raised $50 million in an extension of its $130 million Series E funding round to continue growing its pay-by-bank network, according to PYMNTS. TrueLayer’s latest funding round was led by Northzone.
The company currently processes over $50 billion in total payments volume annually, 150 million transactions annually, and 1 million variable recurring payment transactions per month.
“Reaching this scale and position required a lot of time, capital and commitment,” TrueLayer Co-founder and CEO Francesco Simoneschi said in the release. “We’ve built a unique ecosystem connecting banks, merchants and consumers. This investment enables us to continue to challenge the status quo in payments and grow our presence in areas like eCommerce.”
TrueLayer’s open banking network is live across 21 European countries and has 10 million users, according to the release. The company’s revenue doubled in 2023 as it expanded its customer base and deepened its partnerships across the industry, per the release.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
