Fintech Company TrueLayer Raises $7.5M in Funding

TrueLayer, a London, UK-based Open Banking market, financial API platform, raised $7.5m in funding.

The round was led by Northzone with participation from Anthemis and Connect Ventures.

The company intends to use the funds to grow the team, develop new products and expand into Europe, starting with Germany and France, as new data sharing rules come into force.

Founded in 2016 by Francesco Simoneschi, CEO, TrueLayer provides a data API provides an interface between financial institutions and third-party applications for the sharing of customer transaction feeds.
The company has already signed partnerships and integrations with such companies as Monzo, Starling Bank, Zopa, ClearScore, Canopy, Plum, BitBond, Emma, Anorak and CreditLadder. In addition, a number of undisclosed partnerships with major companies in the consumer and financial space are in the pipeline and will go live in the next 12 months.