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TrueLayer raises $70m to build the world’s most valuable open banking network
TrueLayer, Europe’s leading open banking platform, today announced it has secured a $70m Series D investment round led by new investor Addition. The latest raise reflects the growing demand for its open banking-based services and marks another significant milestone for TrueLayer on its mission to open up finance, building an open banking network that brings together payments, financial data, and identity to redefine how people spend, save, and transact online.
Existing investors, including Anthemis Group, Connect Ventures, Mouro Capital, Northzone, and Temasek, also participated, with a significant increase to the company’s valuation. Additional investors in the round include Visionaries Club, Surojit Chatterjee (CPO Coinbase), Zack Kanter (CEO Stedi), Daniel Graf (ex-Uber, Google, Twitter) and David Avgi (ex-CEO SafeCharge, CEO UniPaaS). It brings the total investment to date in TrueLayer to $142m.
The new funding will be used to fuel global expansion and accelerate the development of premium open banking-based services that will continue to drive innovation and revenue growth for clients. It will also be used to expand TrueLayer’s engineering, product and commercial teams to meet the increasing global demand for its open banking platform.
TrueLayer’s API-first platform accounts for more than half of all open banking traffic in the UK, Ireland and Spain, processing billions of pounds in payments. It powers services for some of Europe’s fastest-growing brands, including Revolut, Trading 212 and Payoneer.
TrueLayer has a market-leading payment conversion rate that is 22% higher than other providers, according to OpenBanking UK and other bank sources, and up to 40% higher than cards. Merchants offering TrueLayer as a payment method in their checkout have found that on average, 1 in 3 consumers chose to pay via TrueLayer. As a result, open banking is displacing other payment methods, such as cards, as the default payment option online.
Over the past 12 months, TrueLayer has expanded its services across 12 European markets, growing payment volumes by 600x, and adding hundreds of new customers across digital banking, eCommerce, trading and investment, wealth management, crypto and iGaming. It has continued to innovate, for example, with the recent launch of PayDirect, combining instant pay-in capabilities with instant pay-outs, to deliver a higher converting, lower fraud method for online payments.
“When Luca and I started TrueLayer in 2016, we imagined open banking becoming a new digital channel for solving cost and complexities around payments, digital identity, credit data and much more. We wanted to open up this newly built infrastructure to many businesses and consumers. It is such a joy to see our vision coming alive and open banking based payments quickly becoming the new normal,” commented Francesco Simoneschi, CEO and Co-Founder at TrueLayer.
TrueLayer is rapidly expanding as demand for its open banking platform increases, largely driven by consumer demand for digital financial services that work better for them, and give them more control over their financial lives.
“We have achieved this milestone thanks to the hard work of our stellar team. Bringing radical new products into the hands of consumers and businesses is incredibly exciting,” explained Luca Martinetti, Co-Founder and CTO at TrueLayer. “This new financial network we are building on top of open architectures has massive long term implications for the whole fintech ecosystem and we won’t compromise our vision in any way.”
“That is why it is so important to select investors that can help you to plan for the next 15 years, not the next 15 months,” added Simoneschi. “The Addition team thinks very long term and it has been such a pleasure working together. They complement the incredibly strong group of experienced backers who align with our vision of how financial services are evolving.”
Lee Fixel, Founder of Addition, commented: “TrueLayer is ideally positioned to benefit from the trends shaping the future of financial services as more and more companies embed digitally native payments into their platforms. We look forward to supporting the TrueLayer team as they scale their offering and drive continued innovation.”
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FreezeNova
10-15% Of Gamers In Florida Show Signs Of Gaming Addiction: Here Are 10 Signs Your Kid Is Suffering From It (And How You Can Help)
Recent studies indicate that 10-15% of young gamers in Florida exhibit signs of gaming addiction. These findings underscore the need for early identification of symptoms to prevent negative impacts on children’s mental and physical health. Gaming addiction, if not dealt with, can lead to poor academic performance, social withdrawal, and even health problems.
Marin Cristian-Ovidiu, CEO of FreezeNova, discusses key indicators of gaming addiction and offers practical advice for parents.
Recognizing Early Signs
“Early recognition of gaming addiction is crucial in preventing long-term negative outcomes,” Marin explains. The following signs can help parents identify if their child might be developing an addiction:
Exhaustion and Irritability
Constant tiredness and grumpiness during the day could indicate late-night gaming sessions interfering with sleep.
Gaming Obsession
If gaming dominates your child’s thoughts and conversations, and they plan their day around it while neglecting other responsibilities, it could be a sign of addiction.
Decline in Academic Performance and Lost Interests
A noticeable decline in academic performance or loss of interest in previously enjoyed activities may suggest your child is prioritizing gaming over more important tasks.
Emotional Volatility
Extreme emotional reactions to in-game outcomes, such as uncontrolled anger, known as ‘Gamer Rage’, or intense celebrations, could indicate an unhealthy attachment to gaming.
Physical Strain
Signs of repetitive strain injuries like ‘Gamer’s Thumb’ or ‘Nintendo Neck’ from prolonged screen time are warning signals.
Neglecting Basic Needs
If your child is neglecting basic needs like eating, sleeping, or hygiene to keep playing, gaming has likely taken an unhealthy control over their life.
Creating a Supportive Environment
While video games can be a great source of entertainment and connection, around 70% of people with signs of gaming addiction also experience social disorders. Marin recommends a few tips for building a supportive and open environment for your child.
Teamwork and Setting Boundaries
“Parents and children should work together to create a healthy gaming environment. Gaming addiction requires a holistic approach,” Marin advises. Start by setting clear boundaries on gaming time to ensure there’s room for schoolwork, chores, and quality family time.
Revisit activities your child once loved, like football practice or exploring new hobbies together. It’s vital for your child to take breaks from screens, so create a balanced daily routine that includes homework, chores, exercise and just some gaming time. This allows your child to enjoy their games without neglecting other aspects of their life.
Open Communication
Maintain open communication. Discuss the games your child enjoys and any concerns you might have. By understanding their world, you can work together to find solutions.
Remember, you’re not alone. If you feel overwhelmed, seek professional help from specialists in gaming addiction. Marin concludes, “By working as a team, setting clear boundaries, and fostering open communication, we can help your child develop a healthy relationship with gaming and thrive in all areas of life.”
Here are this weeks latest slots releases compiled by European Gaming
PG Soft has released its epic samurai saga, Geisha’s Revenge. Set among Japan’s opulent teahouses, the game follows leading light Ayane on her quest to seek justice for her family by the ruthless samurai. Geisha’s Revenge is a video slot presented within a framework that has five reels, the first of which has five rows and the next four have six rows.
3…2…1… Get ready for blastoff in Wild Moonsters, the latest intergalactic slot adventure from in-demand studio, Silverback Gaming. Players go on a cosmic thrill tide as they navigate a hexagon game grid to create stellar clusters of 4+ matching symbols to form wins. They also need to keep their eyes out for the Wild symbol, which shoots excitement, and big win potential, into the stratosphere.
TaDa Gaming has released its latest slot game, Lucky Jaguar. With three rows, three reels and five fixed play lines, this fast gameplay slot delivers wild bonuses and multiplier bonuses alongside the TaDa Extra Bets and Lock and Respin features. The wealth of the Aztec empire is waiting in Lucky Jaguar in both the main game and the bonus game, which can trigger randomly at any time to deliver the Lock and Respin feature.
ICONIC21, the in-demand provider of live content, continues to push boundaries with the addition of slots to its growing game portfolio. The provider’s slot games will combine classic mechanics, engaging narratives and fun characters offering players an interactive experience throughout. The first slot titles to go live will be Solar Sands, Vitamin Joy, Tortuga Fortune and Juicy Coins: Hold & Win with ICONIC21 planning to launch one slot per month in 2025. The slots are high volatility ones, with max wins ranging from x300 to x36,000. Wild & Scatter Symbols, Hold & Win, Bonus Rounds, Multipliers and Free Spins ensure the games have a fluid, entertaining gameplay.
BGaming takes the concept of the ever-popular premium rubber duck stores and swings open the doors to its own slot version in Lucky Ducky X-Mas Edition. This quacky festive title features the popular MergeUp™(patent pending) mechanic with nine levels, Free Spins with multipliers up to x128, and both the Buy Bonus and Chance x2 buttons.
Evoplay has launched Sea of Wealth, an underwater adventure combining engaging visuals and innovative features. The game features a 3×3 reel layout with symbols inspired by marine life and hidden treasures. Poseidon serves as the Wild symbol, while his Trident activates the Bonus Game when paired with Bonus symbols. With Trident Magic, Poseidon’s Trident collects values from Bonus symbols, while Trident Shot can trigger a transformation of random symbols on reels 1 or 3 into Bonus symbols, increasing the likelihood of activating the Bonus Game.
Nolimit City returns to the most profitable sweatshop in the business in Outsourced: Payday. Workers have been replaced by claws who never call in sick! This Labs-branded slot takes the Outsourced theme to the next level. This is yet another experimental game that changes the way players enjoy Nolimit City’s slots.
Battle the beast and claim untold riches in Jolly Roger Wild Kraken! This high-seas pirate expedition takes players deep into the Kraken’s lair, where treasures await those brave enough to face the fury of the legendary Wild Kraken. Play’n GO’s latest release brings back Captain Red Roger in an all-new nautical escapade. Having braved countless dangers in search of treasure, Roger now sets his sights on Kraken Deeps – a perilous archipelago shrouded in mystery and riches.
PopOK Gaming announced the launch of Papai Noel da Fortuna, the latest holiday-themed slot game. Just in time for the season of joy, this exciting release captures the magic of Christmas and New Year with festive fun, dazzling rewards, and immersive gameplay. Step into a winter wonderland where Santa Claus himself takes center stage, filling the reels with sparkling ornaments, golden bells, and overflowing gift bags. With Papai Noel da Fortuna, every spin is a celebration of holiday cheer and fortune.
ELA Games, a modern and trailblazing game development studio, announces the release of its latest game, Wealth of Legends. The slot aims to attract players of various audiences with its unique format, exciting graphics and captivating features. The 5×5 game pays all ways, giving players plenty of opportunities to win during the base game, keeping the playing experience engaging. Landing a coin symbol in the special zone triggers the Hold & Win feature, which begins three free re-spins. Collect special jackpot coins for a lucrative win!
The post Week 51/2024 slot games releases appeared first on European Gaming Industry News.
Industry-leading provider secures license to provide slots and live content in Denmark
Award-winning casino content provider Stakelogic has obtained a license from the Danish Gambling Authority, Spillemyndigheden, to provide its gaming content in Denmark.
The license will allow Stakelogic to bring its premium portfolio of online casino slots and live dealer content to the Danish market, including recent releases like Fire and Gold Cluster Breaker, Super Wheel Game Show, Trident of Legends, and The Watcher.
Stakelogic is able to partner up with leading Danish operators, establishing itself as a must-have provider in the country. The move further highlights Stakelogic’s commitment to strengthening its position in the European market and exploring new and exciting regulated markets.
The license also further cements the company’s presence in the Scandinavian markets, having secured a license from the Swedish authority, Spelinspektionen, in 2023 and establishing itself as a popular provider among Swedish players.
Denmark is one of Europe’s fastest-growing markets, with a strong focus on customer care and responsible gambling. Stakelogic is proud to have met all the requirements needed to obtain the license, highlighting its commitment to providing players with the best and safest gaming experiences.
Stephan van den Oetelaar, CEO at Stakelogic, said: “Denmark is one of the fastest growing markets in Europe, and we are proud to have achieved a license to the newly regulated market.
We are grateful to Spillemyndigheden for their support in us and we are excited to take our next steps into the market.”
The post Stakelogic Secures License to the newly regulated Danish market appeared first on European Gaming Industry News.
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