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TrueLayer raises $130m to accelerate the adoption of open banking payments globally



TrueLayer partners with leading bookmaker William Hill for instant pay-ins and payouts
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  • Latest raise led by Tiger Global Management LLC with participation from global payments technology firm Stripe. Brings the total raised to date to c$270m.

  • TrueLayer processes billions in payments, with 400% growth in payment volume and 800% growth in monthly payment value as the company expands across Europe and doubles its customer base.

  • Funding to accelerate the global rollout of TrueLayer’s payments network, with a focus on instant and recurring payments.

TrueLayer, the global open banking pioneer, today announced that it has closed a $130 million fundraising round, led by new investor Tiger Global Management LLC, the New York-based technology investor, with participation from global payments technology provider Stripe. The latest investment gives the business a post-money valuation of more than $1 billion.

The raise reflects TrueLayer’s position as the market leader in open banking payments, and the scale of its ambition to introduce a new global payment network, making instant and recurring payments available everywhere, in a few lines of code. In 2021, TrueLayer has processed billions in payments, experiencing 400% growth in monthly payment volume and 800% growth in monthly payment value as the company expanded across Europe and doubled its customer base.

Millions of consumers and businesses use TrueLayer to pay for goods and services. Whether investing through Freetrade, banking with Revolut, buying or selling a car on Cazoo, or saving money with one of the UK’s largest loyalty card schemes, TrueLayer powers some of Europe’s most innovative brands. With the new funding it takes greater aim at opportunities in ecommerce, to supercharge the mainstream adoption of open banking payments. On average, 1 in 3 people already choose to pay via technology powered by TrueLayer, and some merchant partners are seeing more than 70% of their customers choosing to pay securely with their bank account over cards or digital wallets.

Francesco Simoneschi, CEO and co-founder of TrueLayer, commented: “There is only so long that global business can rely on systems that are outdated, expensive and not fit for the digital age. TrueLayer is carving a new world of payments altogether, which can deliver a fundamentally faster, safer and more user friendly experience that also improves conversion and delivers higher revenues for merchants. We are leading this innovation through instant deposits and withdrawals, and merging Variable Recurring Payments and Direct Debit to build ‘account on file’ services on top of our open banking network. There is an opportunity to rewire the financial system from the ground up and we are leading that evolution through open banking payments.”

TrueLayer’s network provides 95%+ coverage across the UK and major European markets, and accounts for more than half of all open banking traffic in the UK, Ireland and Spain. Its API-first approach helps customers to seamlessly pay, onboard, and share financial information in seconds, garnering a reputation as the technology provider behind many of the most valuable fintechs and cutting-edge businesses.

“Our investors have seen the impact TrueLayer is having by empowering important sectors, from ecommerce platforms and marketplaces, banks, through to trading and investment firms. I’m delighted to welcome an investor of the calibre of Tiger Global, who have an incredible track record backing firms like Flipkart, Nubank and Square that are creating the platforms, distribution networks and services of tomorrow,” Simoneschi added. “I’m also incredibly proud to have a new partner like Stripe, a company we have long admired for its developer experience and focus on solving real world problems that deliver significant value to its customers. I’m looking forward to collaborating closely with both firms to deliver on our vision.”

The new funding will be used to further scale TrueLayer’s business, offering the benefits of instant bank payments to more markets and sectors, and delivering continued product development and innovation, such as the PayDirect solution. It will also be used to continue the firm’s geographic expansion and deepening its engineering, product and commercial teams globally.

“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. 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,” commented Luca Martinetti, co-founder and CTO at TrueLayer. “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. Our people buy into the vision for what we’re building and the journey ahead. It’s also reflected in the quality of our investors who believe in our ambition and are as excited as us about what comes next.”

Alex Cook, Partner, Tiger Global, said: “The shift to alternative payment methods is accelerating with the global growth of online commerce, and we believe TrueLayer will play a central role in making these payment methods more accessible. We’re excited to partner with Francesco, Luca and the TrueLayer team as they help customers increase conversion and continue to grow the network.”

The funding round is the latest milestone for TrueLayer in 2021. It follows the launch of its PayDirect solution, Verification API, and Payouts solution, receiving its full EU authorisation from the Central Bank of Ireland and establishing its European HQ in Dublin.

Latest News

DigitalEjis and Exalogic: Pioneering Responsible Gaming in Italy



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DigitalEjis, the pioneering software development company in responsible gaming, and Exalogic, Italy’s premier gambling platform provider, have joined forces in an exciting partnership.

This collaboration marks a significant milestone in the Italian gaming landscape when it comes to upgrading responsible gambling practices and addiction prevention.

Predictive Software for Safer Gaming

DigitalEjis has developed an unparalleled software solution that predicts the onset of gambling addiction before a player places their first bet. Unlike existing tools that identify addiction once compulsive behavior is already underway, DigitalEjis’ predictive software enables operators to customize the betting experience for each customer from day one. By doing so, operators can offer their players the safest and most entertaining environment possible.

Exalogic’s Role in the Partnership

Exalogic, renowned for its robust and reliable gambling platform, has chosen DigitalEjis as their only partner for predictive and antiaddiction product. This strategic alliance ensures that responsible gaming practices become an integral part of the Italian gambling landscape.

Embracing the Italian Market

Dr. Ian McLoughlin, Founder and CEO of DigitalEjis, expressed his enthusiasm: “It’s great to see how wholeheartedly the Italian market has embraced DigitalEjis through this agreement with Italy’s number one platform provider and value-added services partner to the gambling industry.” This collaboration positions DigitalEjis as a first mover in the Italian territory.

Responsible Gambling at the Core

Italy’s new decree on gambling, particularly Article 14, underscores the importance of responsible gaming. The Decree focuses on protecting players from the onset of gambling addiction also adopting software empowered by Artificial Intelligence. DigitalEjis’ product aligns perfectly with this initiative, providing accurate predictions and personalized protection for players.


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Casino Games

Welder racks up over $69,000 from three back-to-back online casino wins



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A 60-year-old welder has netted $69,850, following three consecutive victories at WinSpirit Casino.

I’ve had some fantastic wins. The best ones were $26,550 and $25,300 during the bonus game,” the man shared.

The lucky winner, who decided to remain anonymous, caught luck by the tail in the Diamonds Power: Hold & Win slot.

When I play, I follow a strategy. I start with bets of $5-10 and increase them after a few wins,” he said.

Following a string of consecutive wins, the man reached a $50 bet, which ultimately led to his coveted winnings.

$50 spins go through my finds quickly, but if you get the bonus, the payoff is unbelievable,” the man added.

Diamonds Power: Hold & Win is a 3×3 slot by Playson featuring four fixed jackpots and a unique Hold & Win feature. The game offers a maximum win of 5,150 times the initial bet per round.

To celebrate his success, the man decided to dine at a local casino restaurant with his wife, with whom he had shared 27 years of marriage

During dinner, we came up with the idea to test my winning strategy again, so we opened the familiar WinSpirit page on my phone,” he laughed.

The fortunate player stumbled upon WinSpirit Casino accidentally while searching for an online platform to enjoy slot games.

“During my search, I tried a few online casinos. But WinSpirit stood out for its ease of use and quick verification process,” he said.

The casino offers its new players a 100% bonus up to 200 USD+ 100 Free Spins and a 200% bonus up to 200 USD on their first and second deposits respectively.

The man also noted that the main reason he plays at the casino is to have fun.

“I play for fun. And big wins… They are like a pleasant bonus that you get while enjoying your pastime.”

The self-employed welder is living a peaceful life, enjoying outdoor activities like fishing, hunting, camping, and motocross biking.


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Latest News

Exclusive Live Stream with Conor McGregor



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Today is Duelbits’ exclusive inaugural live stream with The Notorious!

The stream will take place at 18:00 UTC and you will be able to join live on

We would like to start off by inviting you to visit to register and start your rewards journey.

Make sure to opt-in for the Conor McGregor 30 day tournament with a grand $150,000 Prize Pool. Wager $100 or more and get ready for cash giveaways given out by The Notorious himself, during this live stream.

This is an opportunity you would not want to miss! The Notorious will be right here waiting to see if you’ve got what it takes to make it to the top of the leaderboard. Beat the best to be the best!

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