Today and tomorrow – our $35M funding round

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Francesco Simoneschi, CEO & CO-Founder
5 Jun 2019
Money moving sideways

As a consumer, there is nothing more delightful than to see your apps and your information integrating together seamlessly, to help with the mundane tasks of our daily life.

In finance, this seamless integration enables consumers to pay instantly, understand their monthly budget with the glimpse of an eye, access cheaper and more convenient credit, open wallets and accounts to keep their money safe and send money to their friends.

Consumers have substantially increased their trust in financial innovation which is helping them to achieve success in life, save for the important moments, and enabling them to get rid of inefficiencies and bureaucracy when paying their taxes, or verifying their income, their rent, or their identity.

Ultimately, people want to fulfil their desires, not have barriers stand in the way.

Three years ago, we started TrueLayer because of the genuine pleasure to build something that didn’t exist before, to challenge ourselves with a vision, and the ambition to impact thousands of developers and millions of consumers to improve a deep and fundamental part of their life — their financial life.

We are proud to announce today that we’ve raised a $35M Series C round to enable a whole ecosystem of new financial applications to come alive.

This is a huge endorsement of our past work and a recognition that open banking is here to stay. And rest assured, we are going to invest this capital to build the best developer platform, and thus, grow the open banking economy.

With the same passion and the same energy since the very beginning, we want to continue to empower a new class of fintech companies that are obsessed with removing friction from the financial lives of their consumers.

We want this community of makers to embed critical financial utilities inside the apps we love and use every day. We want applications to simply interact with our finances so that our money works for us almost invisibly and effortlessly.

We are committed to growing the open banking economy — and we are not going at it alone. In our journey, we welcome Denying Ma from Tencent and Ming See from Temasek. They are experienced investors that are motivated to help us develop a financial ecosystem that can thrive. Their advice will contribute to us shaping a global platform that is optimised for long term success.

We also want to say thank you to our existing and continuing investors: Jeppe Zink from NorthZone, Yann Ranchere from Anthemis and Pietro Bezza from Connect — you helped us to get this far, and it’s a pleasure to continue this journey with you.

Today we celebrate this milestone with our team, with our developers, and with our clients. We’re grateful for the trust they have placed in us, and continue to do so.

Team Photo

Tomorrow, we’ll continue to work to expand our platform in Europe and globally, double down on the developer experience, enhance platform capabilities, ensure reliability, and grow client care.

We are incredibly excited about what the next few years will bring; we can’t wait to have you join us in this adventure.

Francesco & Luca

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