TrueLayer valued at $1bn

Open Banking company TrueLayer has closed a $130 million fundraising round.

The investment boosts the business’ valuation to more than $1 billion.

In 2021, the company experienced 400 per cent growth in monthly payment volume and 800 per cent growth in monthly payment value.

The round was led by new investor Tiger Global Management LLC, the New York-based technology investor, with participation from global payments technology provider Stripe.

“When Francesco and I founded TrueLayer it was with a belief that open banking would act as a catalyst for fundamental change in financial services,” said Luca Martinetti, co-founder and chief technology officer at TrueLayer. “I’m incredibly proud of how we’ve built the firm, with a focus on quality engineering and user experience aligned to product development that delivers the best possible services.

“That is reflected in the thousands of developers using our services, the talent we are retaining and the calibre of leaders we’re attracting from world-class technology and fintech companies.”

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