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TrueLayer raises $130m to accelerate the adoption of open banking payments globally
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Latest raise led by Tiger Global Management LLC with participation from global payments technology firm Stripe. Brings the total raised to date to c$270m.
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TrueLayer processes billions in payments, with 400% growth in payment volume and 800% growth in monthly payment value as the company expands across Europe and doubles its customer base.
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Funding to accelerate the global rollout of TrueLayer’s payments network, with a focus on instant and recurring payments.
TrueLayer, the global open banking pioneer, today announced that it has closed a $130 million fundraising round, led by new investor Tiger Global Management LLC, the New York-based technology investor, with participation from global payments technology provider Stripe. The latest investment gives the business a post-money valuation of more than $1 billion.
The raise reflects TrueLayer’s position as the market leader in open banking payments, and the scale of its ambition to introduce a new global payment network, making instant and recurring payments available everywhere, in a few lines of code. In 2021, TrueLayer has processed billions in payments, experiencing 400% growth in monthly payment volume and 800% growth in monthly payment value as the company expanded across Europe and doubled its customer base.
Millions of consumers and businesses use TrueLayer to pay for goods and services. Whether investing through Freetrade, banking with Revolut, buying or selling a car on Cazoo, or saving money with one of the UK’s largest loyalty card schemes, TrueLayer powers some of Europe’s most innovative brands. With the new funding it takes greater aim at opportunities in ecommerce, to supercharge the mainstream adoption of open banking payments. On average, 1 in 3 people already choose to pay via technology powered by TrueLayer, and some merchant partners are seeing more than 70% of their customers choosing to pay securely with their bank account over cards or digital wallets.
Francesco Simoneschi, CEO and co-founder of TrueLayer, commented: “There is only so long that global business can rely on systems that are outdated, expensive and not fit for the digital age. TrueLayer is carving a new world of payments altogether, which can deliver a fundamentally faster, safer and more user friendly experience that also improves conversion and delivers higher revenues for merchants. We are leading this innovation through instant deposits and withdrawals, and merging Variable Recurring Payments and Direct Debit to build ‘account on file’ services on top of our open banking network. There is an opportunity to rewire the financial system from the ground up and we are leading that evolution through open banking payments.”
TrueLayer’s network provides 95%+ coverage across the UK and major European markets, and accounts for more than half of all open banking traffic in the UK, Ireland and Spain. Its API-first approach helps customers to seamlessly pay, onboard, and share financial information in seconds, garnering a reputation as the technology provider behind many of the most valuable fintechs and cutting-edge businesses.
“Our investors have seen the impact TrueLayer is having by empowering important sectors, from ecommerce platforms and marketplaces, banks, through to trading and investment firms. I’m delighted to welcome an investor of the calibre of Tiger Global, who have an incredible track record backing firms like Flipkart, Nubank and Square that are creating the platforms, distribution networks and services of tomorrow,” Simoneschi added. “I’m also incredibly proud to have a new partner like Stripe, a company we have long admired for its developer experience and focus on solving real world problems that deliver significant value to its customers. I’m looking forward to collaborating closely with both firms to deliver on our vision.”
The new funding will be used to further scale TrueLayer’s business, offering the benefits of instant bank payments to more markets and sectors, and delivering continued product development and innovation, such as the PayDirect solution. It will also be used to continue the firm’s geographic expansion and deepening its engineering, product and commercial teams globally.
“When Francesco and I founded TrueLayer it was with a belief that open banking would act as a catalyst for fundamental change in financial services. I’m incredibly proud of how we’ve built the firm, with a focus on quality engineering and user experience aligned to product development that delivers the best possible services,” commented Luca Martinetti, co-founder and CTO at TrueLayer. “That is reflected in the thousands of developers using our services, the talent we are retaining and the calibre of leaders we’re attracting from world-class technology and fintech companies. Our people buy into the vision for what we’re building and the journey ahead. It’s also reflected in the quality of our investors who believe in our ambition and are as excited as us about what comes next.”
Alex Cook, Partner, Tiger Global, said: “The shift to alternative payment methods is accelerating with the global growth of online commerce, and we believe TrueLayer will play a central role in making these payment methods more accessible. We’re excited to partner with Francesco, Luca and the TrueLayer team as they help customers increase conversion and continue to grow the network.”
The funding round is the latest milestone for TrueLayer in 2021. It follows the launch of its PayDirect solution, Verification API, and Payouts solution, receiving its full EU authorisation from the Central Bank of Ireland and establishing its European HQ in Dublin.
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Totogaming Joins Cernica Pantelimon RunFest: Not Just Present, But Fully Participating
“We weren’t just present — we were participants of Runfest. And that’s one of the most important aspects,” said Artak Ashkhatoyan, Deputy CEO of Totogaming.
On July 6, Totogaming joined the Cernica Pantelimon Runfest in Romania, once again emphasizing the importance of promoting amateur sports and a healthy lifestyle.
“Supporting such initiatives is a priority for TotoGaming. First, 50% of the proceeds from RunFest will be donated to the CLOVES Romania Foundation, supporting children affected by CLOVES Syndrome. And second, we’ve always believed in showing our passion for sports through actions, not just words. Have you noticed how we’re constantly rushing through life, yet when we look back, it often feels like we haven’t moved at all? It’s important for us to lead by example and show the importance of participation. This is exactly the message we’re promoting through our team’s active involvement in the marathon. After all, there can never be too much sport in our lives,” said TotoGaming’s Deputy CEO, Artak Ashkhatoyan.
A Simple Concept, a Powerful Impact
The concept of this sports event is straightforward: choose a distance between 1 to 21 kilometers and run. The goal? Make sport an integral part of everyday life. The crowd certainly embraced that, gathering as early as 8:30 a.m. — on a Sunday morning.
Totogaming contributed in two distinct capacities: as an official sponsor and as an active participant. A dedicated team of 13 employees represented the company at the Cernica Pantelimon RunFest, with 7 of them proudly taking part as runners.
More Than Just a Run
It wasn’t an easy challenge — especially because among Totogaming’s runners were people for whom running isn’t a daily habit, or even part of their life at all. Yet they couldn’t miss the opportunity, not least from the perspective of corporate responsibility.
“We just finished the 7.5-kilometer race!” shared Petrut-Adrian Toea from the Totogaming team.
“It was amazing, honestly. Around the 2-kilometer mark, I had this little battle with myself — I told myself I had to finish the race, no matter what. And I did it! I came in around 60th place out of over 100 runners, which for me is a really good result.”
“I see my participation as a small contribution toward promoting a healthy lifestyle. In my close circle, everyone knows I’m not exactly the sporty type. I’m not athletic, and I usually prefer having fun in other ways. But showing up here, early in the morning, in this intense heat, and completing almost 8 kilometers with just one short break — I think it set a good example.”
“I hope seeing someone like me finish this challenge motivates my friends to try something similar for their own health. I believe that’s a meaningful contribution”, – added Petrut-Andrea.
Totogaming also made it possible for every attendee to bring sport into their lives — quite literally. At the Totogaming tent, participants could ride stationary bikes and receive prizes based on the number of points they earned through their efforts.
Whether they were running, cycling, or simply cheering for friends, the goal for everyone was the same: to reach the destination of champions — by bringing sport into everyday life.
The post Totogaming Joins Cernica Pantelimon RunFest: Not Just Present, But Fully Participating appeared first on European Gaming Industry News.
BMM Testlabs, the world’s original gaming test lab renowned for exceptional product compliance and certification services, today announced the promotion of Sacha McLaughlin to Vice President of Global Quality Assurance.
BMM’s President of Land-Based Gaming & Inspections, Kirk White, said, “Sacha has consistently demonstrated exceptional leadership, operational excellence, and a customer-first attitude. Her experience and passion will be critical as we continue to grow our QA services to meet the always-evolving needs of the global gaming industry.”
With over 18 years of experience in software implementation and seven years in the gaming industry, McLaughlin brings extensive knowledge of both agile and waterfall development methodologies, test planning, project management, and cross-regional team leadership. She is recognized for her ability to build and scale QA organizations that deliver quality, speed, and value to customers.
McLaughlin joined BMM in 2018 and has held roles of increasing responsibility within the Company, most recently serving as Senior Director of Quality Assurance. Throughout her tenure, she has been instrumental in expanding BMM’s QA capabilities and helping customers launch products into the global gaming market more quickly, with a focus on regulatory compliance, functionality, fairness, and security.
The post BMM TESTLABS PROMOTES SACHA MCLAUGHLIN TO VICE PRESIDENT OF GLOBAL QUALITY ASSURANCE appeared first on Gaming and Gambling Industry in the Americas.
Major findings from the newly launched report include playable ads having the potential to deliver impression-to-install rates 16 times that of non-playable formats for emerging gaming apps and a 20% increase in spending on interactive ads year over year.
Liftoff, a leading AI-enabled growth platform for the mobile app economy, has published its seventh annual Mobile Ad Creative Index. The report explores top creative trends that are attracting and scaling in ad spend across consumer apps and games. It also highlights the expanding role of AI in creative production, testing, and optimization.
This year’s Mobile Ad Creative Index specifically analyzes creative concepts that have excelled in scale for Liftoff’s highest-spending advertisers over the past 12 to 48 months. It is based on findings from over 4.7 trillion impressions, 263 billion clicks, and 1.1 billion installs between 1 January 2023 and 31 May 2025.
Highlights from the report include:
Top consumer apps are investing in interactive ads to compete for engagement
In 2024, the share of spend on interactive ads for top apps increased by 20% year over year. The share of spend increased by 2% for spenders outside the top tier. Top-spending apps differentiate their campaigns by adding innovations to evergreen concepts such as social scrollers, carousels, and scratch-offs.
Playable ads deliver returns across ad budgets for mobile game advertisers
In 2024, the share of spend on playable ads for top games averaged 35% higher than other games. Across all ad budgets, however, playable ads delivered higher conversion rates. Impression-to-install rates were 8 times that of non-playable formats for top spenders and 16 times that of non-playable formats for other game advertisers.
Tailoring “metaplay” elements to motivations can improve performance
“Metaplay” elements—gameplay that diverges from an app’s core design to appeal to a broader audience—are widespread, but top games gain an edge by tailoring their metaplay ads to the publisher audience. The report found that aligning “metaplay” creative with publisher audiences resulted in a 93% increase in installs-per-mille.
UGC is becoming a key differentiator in driving scale for consumer apps
The share of spend on user-generated content (UGC) increased 11% for top-spending apps, with social and utility apps seeing the most significant jump of nearly 30% between 2023 and 2024.
Widespread adoption of Gen AI leads to more customized ad experiences
Creative teams increasingly leverage AI to enhance top-performing assets with 3D and motion and to create and test variations. Top advertisers also use AI to recombine their assets in customized ad experiences that break away from standard video to playable formats.
Yann Zeller, Chief of Staff, Creative at Liftoff, said: “Today’s creative landscape is shaped by a single, powerful truth: attention is the commodity, and brands, games, and influencers are all vying for it. Great mobile ad experiences can earn attention by aligning context with behavior. As ad formats become richer and AI expands our ability to personalize and adapt creatives at scale, we’re able to unlock new insights into user behavior and motivation. We see users spend meaningful stretches with the right content, sometimes 60 to 90 seconds when the ad feels personal or prompts meaningful participation. This isn’t just a better way to advertise—it’s a better way to tell stories and the most exciting brief we’ve had in years.”
Soren Steelquist, Director of Creative Production, said: “The proof is in the data—more and more consumer apps are incorporating UGC into every stage of their marketing, and programmatic is no different. UGC works because it’s authentic and relatable, and users are more likely to be influenced by ad when it’s coming from a trustworthy source. To see higher impact from UGC creatives, work with a partner that can match the right creator with your brand and develop winning concepts that resonate with audiences.”
The post Liftoff’s 2025 Mobile Ad Creative Index Reveals UGC Is a Key Differentiator for Top Apps appeared first on Gaming and Gambling Industry in the Americas.
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