FinTech startup TrueLayer gets £5.77m to fuel European expansion

TrueLayer, a fintech company that provides an interface between financial institutions and third-party applications over an API, has managed to raise £5.77m in a Series A funding round led by venture capital fund Northzone. With additional investment from previous supporters Connect and Anthemis.

The London-based company was founded in 2016 by serial entrepreneurs Francesco Simoneschi and Luca Martinetti and has partnered with companies including Monzo, Starling Bank, Zopa, ClearScore, Canopy, Plum and Emma since the launch of Open Banking earlier this year.

The investment will be used to grow the company in Europe, starting with France and Germany, as well expand its team and develop new products.

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