London-based fintech startup TrueLayer, which makes it simple to combine monetary companies like open banking into any app or web site, has raised $25 million in funding from present buyers as an extension of its Sequence C spherical, taking its whole raised as much as $72 million.
Truelayer was among the many first UK firms to be authorised and registered by the FCA to offer account info and cost initiation companies underneath Open Banking and PSD2 again in 2016.
Quick ahead to at present, and its platform already accounts for greater than half of all Open Banking visitors within the UK, based on the corporate (additionally helped by the coronavirus pandemic and its constructive impact on on-line funds and banking).
Up to now 12 months, TrueLayer has partnered with fintech startups like Revolut and Nutmeg to ship open banking capabilities past present account entry to tens of millions of European prospects because it expanded its platform from the UK to the remainder of Europe.
TrueLayer has raised funding from Tencent and Singapore’s Temasek, in addition to Northzone and Anthemis, to proceed on that journey. Earlier at present, Sweden-based fintech scale-up Tink acquired the ‘Open Banking Aggregation Platform’ from TrueLayer rival OpenWrks.