Northzone leads $7.5m funding round for Truelayer

The London-based company will use the fresh capital to expand into further European countries starting with Germany and France.

Since the launch of the Open Banking initiative in the UK and the Europe-wide PSD2 rules in January, Truelayer has secured partnerships with financial technology companies including Monzo, Starling Bank and ClearScore.

Northzone is currently investing from its €300m VC fund Northzone VIII, which held a final close in September 2016. 

Previous funding
Connect Ventures led a $1.3m seed round for TrueLayer in February 2017. Graph Ventures also took part alongside a consortium of private investors and business angels.

Connect returned to invest in a $3m series-A, led by Anthemis Group in June 2017.

Company
Truelayer has developed an application programming interface (API) used by financial technology companies to develop their products. The API offers developers an easy way to access the bank data they need to build new financial apps and services. The company was founded in 2016 by Francesco Simoneschi and Luca Martinetti.

People
Northzone – Jeppe Zink (partner).
Truelayer – Francesco Simoneschi (CEO).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Northzone
• Venture