London-based fintech TrueLayer has secured $27 million in a new funding round. The investment was led by the Italian firm CDP Venture Capital. The company plans to use the capital to support its expansion efforts in Milan, which serves as one of its primary engineering hubs.
TrueLayer currently employs approximately 280 people, with about 70 staff members based in Italy. The company intends to continue its hiring process in Milan through 2027. The firm's Pay by Bank network is active in 22 countries and serves over 30 million consumers.
The company has been active in M&A, acquiring the Swedish paytech Zimpler in March and the Dutch provider in3 on May 29. TrueLayer's client list includes major companies such as Amazon, eBay, Ryanair, and Just Eat. The firm reached unicorn status in 2021.
In October 2024, TrueLayer raised a $50 million extension to its Series E round, which valued the company at approximately $700 million. The company reported revenue of £20.3 million for 2024, compared to £12.4 million in 2023.
