The UK-based fintech TrueLayer has secured $27 million in a new funding round. The investment was led by the Italian state-backed firm CDP Venture Capital, marking its first involvement with the company. The round also included participation from a consortium of both new and existing investors.
TrueLayer specializes in open banking technology, facilitating account-to-account payments as an alternative to traditional card networks like Visa and MasterCard. The company was established in London in 2016 by Italian founders Francesco Simoneschi and Luca Martinetti. To date, the startup has raised a total of approximately $350 million.
The company plans to utilize the new capital to expand its operations within Italy. Currently, TrueLayer maintains a workforce of about 70 employees in the country, which represents roughly one-quarter of its total staff. Milan serves as one of the company's primary engineering hubs.
Looking ahead, TrueLayer intends to continue its recruitment efforts in Italy throughout 2027. The company is backed by notable investors including Stripe and Tiger Global, and it aims to develop a modern payment infrastructure specifically for the European market.
