TrueLayer, the UK-based developer of an open banking platform, received $70m yesterday in a series D round led by Mouro Capital, the venture capital firm spun off by financial services firm Santander.
Investment firm Addition led the round, which included Anthemis Group, Connect Ventures, Northzone, Temasek, Visionaries Club and private investors Surojit Chatterjee, Zack Kanter, Daniel Graf and David Avgi.
Founded in 2016, TrueLayer provides open source banking software that enables enterprises to add banking services to their offering. The capital will be allocated to international growth and the expansion of its services.
The company has now raised $142m altogether, having closed a $60m series C round featuring internet group Tencent and Singaporean government-owned investment firm Temasek in September 2020.
The series C round followed $1.3m in seed capital from Connect Ventures, Graph Ventures and assorted individuals in 2017, $3.5m in series A funding from Anthemis and Connect Ventures later the same year and $7.5m in a 2018 series B led by Northzone that included Connect Ventures and Anthemis.
