TrueLayer raises $70 million

UK-based provider of financial APIs TrueLayer has raised $70 million in a Series D funding round led by Addition with Anthemis Group , Connect Ventures, Santander InnoVentures, Northzone, Temasek Holdings, and Visionaries Club as participants.

Founded in 2016, the company claims to process more than half of the open banking volume in the UK, Ireland and Spain and over the past 12 months, it has expanded across 12 markets, growing by 600x. TrueLayer works with companies such as Revolut, Nutmeg, Trading 212, Stake and Payoneer.

“Our mission at TrueLayer is to open up finance. We’re building an open banking network that brings together payments, data and identity to redefine how people spend, save and transact online.We’re doing this in a way that puts customers at the centre, enabling the creators, the doers and the builders in every industry to reimagine finance and improve the fabric of our society.” – TrueLayer.