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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.

  • 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.

  • 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.

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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CEO and co-founder of TrueLayer, commented: “There is only so long that global business can rely on systems that are outdated, expensive and not fit for the digital age.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.”

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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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Zimpler introduces ID+: A next-gen identification layer for digital payments

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Zimpler, a leading Swedish company in Pay-by-bank solutions, today announced the launch of Zimpler ID+, a new identity layer designed to simplify compliance and accelerate user conversion within digital payment environments. By embedding biometric identification and regulatory checks directly into the first user interaction, Zimpler ID+ reduces friction in sectors with complex onboarding requirements.

“Zimpler ID+ gives our partners a direct path to compliance and conversion – cutting onboarding time, reducing drop-offs, and removing the need to build identity infrastructure in-house,” said Tobias Gunnesson, Chief Product Officer at Zimpler.

“While most verification flows still rely solely on deposit-based triggers or cookie tracking, we’re the first to enable verification at the point of entry – meeting compliance head-on and delivering a better user experience from the start.”

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Purpose-built for highly regulated digital environments

Zimpler ID+ serves industries where compliance is critical and abandonment rates are costly, such as iGaming and financial services. It ensures users are verified from the start, without requiring deposits or post-registration identity checks.

Key features include:

  • Quick onboarding: Verification and collection of KYC data takes place at the first point of contact, not only at the point of payment
  • Seamless return user experience: Returning users can identify with biometric technology and are recognized with the help of cookies
  • Works even without cookies: If cookies are unavailable, the user can easily identify themselves using a passkey
  • Built-in compliance: Regulatory assurance at every step of the customer journey

By functioning as a unified identity layer from sign-up through repeat visits, Zimpler ID+ helps businesses minimize onboarding churn and maximize regulatory confidence.

Solving identification friction at scale

The launch of Zimpler ID+ comes as businesses across Europe face rising pressure to improve digital onboarding while maintaining regulatory standards. National ID systems remain foundational – but they weren’t built to optimize every business touchpoint.

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Zimpler ID+ complements these systems by offering operators a plug-in layer of biometric identification and gathering of KYC information tailored to business needs. It removes the need for deposit triggers, repeated logins, or re-verification after a device change.

“With Zimpler ID+, we’re introducing a flexible approach that gives businesses more control over identity flows – without compromising security or relying solely on external systems” said Gunnesson.

Product availability

Zimpler ID+ is now available as a value-added service to select partners in Finland, with more markets to be added in the future.

By embedding advanced onboarding capabilities directly into its existing infrastructure, Zimpler expects ID+ to strengthen customer retention and enhance platform value across regulated sectors for years to come.

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Gaming Americas Weekly Roundup – June 30-July 6

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

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The Alcohol and Gaming Commission of Ontario has issued monetary penalties totaling $350,000 against Great Canadian Casino Resort Toronto for multiple violations of provincial gaming standards. The penalties follow an impromptu after-party that was permitted to take place in the pre-dawn hours directly on the casino’s gaming floor. On September 27, 2024, an electronic dance music event attended by thousands of people was hosted in the theatre adjacent to the casino at Great Canadian Casino Resort Toronto. The event was marked by widespread intoxication, disorderly behaviour and numerous criminal and medical incidents – both inside and outside the venue – including alleged assaults, drug overdoses and acts of public indecency. Although paid duty officers were present, additional police and emergency services were required to manage the situation.

International Game Technology PLC, doing business as Brightstar Lottery, announced that Michelle Carney, Brightstar’s Vice President of Global Lottery Marketing, will be inducted into the Lottery Industry Hall of Fame as a member of the Class of 2025. The induction ceremony will take place this September at an industry event in Ontario, Canada hosted by the Public Gaming Research Institute (PGRI) in conjunction with the North American Association of State and Provincial Lotteries (NASPL). In her current role, Carney is responsible for the development of marketing and communications strategies that support growth for Brightstar’s Global Lottery business, including lottery product marketing, trade shows and events, thought leadership communications and B2C marketing campaign materials to support customer launches of new game content.

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Partnerships

International Game Technology PLC announced that its subsidiary, IGT Canada Solutions ULC (IGT), signed an eight-year agreement with Atlantic Lottery to supply its IntelligenEVO video lottery central system technology across Atlantic Canada. The agreement includes the option for multiple extensions and positions the Atlantic Lottery to become the first World Lottery Association (WLA)-affiliated lottery operator to deploy IGT’s next-generation central management system in a game-to-system (G2S) distributed market. With peak system security, network availability and responsible gaming functionalities, IntelligenEVO is a reliable, scalable solution that can meet the needs of today and in the future. The solution will accelerate time-to-market and enables the Atlantic Lottery to benefit from the system’s suite of player-focused functionality. The technology’s G2S and open API design optimises data collection and delivery and will enable Atlantic Lottery to customise their programme for evolving player needs.

EDGE Boost by EDGE Markets, a financial platform for smart bettors and gamblers, has partnered with World Series of Poker, the premier series of worldwide poker tournaments. The EDGE Boost debit card is now the preferred payment method for WSOP, offering ease of payment, safety and several exclusive on-site perks for tournament players. In past tournaments, WSOP players were limited to $10,000 per transaction and had to complete a lengthy approval process, often resulting in frequent cash deposits. Now, those using the EDGE Boost card through PayPal checkout can bypass traditional credit card verification. They can also make entries up to $250,000, which eliminates the need to carry large sums of cash at the event and increases security measures.

The post Gaming Americas Weekly Roundup – June 30-July 6 appeared first on European Gaming Industry News.

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Heavyweight Club by GR8 Tech Signals New Era of Operator Ambition at iGB L!VE

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The iGaming industry got a taste of heavyweight ambition at iGB L!VE London 2025, where GR8 Tech unveiled its Heavyweight Club—an exclusive community that takes domination in iGaming markets as seriously as world champion Oleksandr Usyk takes defending his undisputed heavyweight title.

“iGB L!VE London was the ignition point for the Heavyweight Club. We showcased top-tier tech and connected with operators ready to lead, scale, and dominate. The energy, the conversations, the demand for real performance confirmed what we’ve always believed: the iGaming industry is hungry for heavyweight solutions and GR8 Tech is here to deliver,” said Sergey Ghazaryan, GR8 Tech’s CRO.

Industry Response Points to Market Appetite

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With increased competition making differentiation more challenging, speed-to-market pressure intensifying as new markets emerge, and technology debt from legacy systems hindering operators’ growth, the industry is at a critical juncture. In 110 meetings with the sales team and over 65 conducted demos, operator feedback consistently centered on these exact challenges.

This shift is evident across the ecosystem. Mariia Shmelova, CEO of Aff.Tech—GR8 Tech’s proprietary affiliate management platform—observed similar patterns: “One major trend is the demand for greater transparency and performance accountability. Operators want to see exactly what’s driving traffic, conversions, and ROI. That’s why we’ve been doubling down on data—not just analytics, but actionable insights that affiliates and operators can use in real time. We’re also seeing growing interest in multi-geo, multi-brand campaigns, and our platform is built to support those kinds of complex setups with ease. Flexibility, automation, and smart integrations are the future.

The conversations revealed a clear understanding: champion ambitions require champion tools. Operators emphasized the need for high-performance solutions that deliver geo-specificity for local market domination and margin mastery that turns competitive pressure into profit advantage. The response highlighted how operators are seeking partners who understand that every champion needs exactly the right tools for their specific fight.

GR8 Tech’s approach resonated because it addresses this reality with three key solutions designed for different use scenarios:

  • Hyper Turnkey, which delivers fully managed casino and sportsbook operations that scale with ambition;
  • ULTIM8 Sportsbook iFrame with its lightning-fast integration and market-specific customization capabilities;
  • Infinite Casino Aggregation, offering premium gaming experiences with an operator-first flexibility.

This comprehensive approach ensures every operator gets precisely what they need to overcome their unique market challenges and achieve championship-level performance.

Heavyweight Club Momentum Builds Toward Next Championship Round

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The “Fight for Greatness” collection drew significant attention on the show floor. Attendees’ enthusiasm for the showcased apparel and accessories, paired with strong performance of the online store, confirmed that the Heavyweight Club resonates far beyond technology—it’s a mindset people want to embody and a philosophy they want to wear.

GR8 Tech’s AR experience featuring Oleksandr Usyk became a magnet for attendees, with over 80 participants stepping into the champion’s world in one of the most memorable activations on the show floor. Winners of the AR experience didn’t just walk away with impressive pictures—they earned tickets to witness Usyk defend his undisputed heavyweight title against Daniel Dubois this July.

Just as Usyk will defend his title at Wembley, the Heavyweight Club will continue its championship journey beyond iGB L!VE. The next epic edition awaits at SBC Summit in September, where the movement will expand with new challenges and opportunities for operators ready to dominate their markets.

Ready to fight for greatness? Connect with GR8 Tech and step into the ring.

 

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GR8 Tech. Platform for Champions

GR8 Tech is an award-winning provider, delivering high-performance sportsbook and iGaming solutions that empower operators to lead and win in competitive markets. Key elements of GR8 Tech’s comprehensive portfolio include the Hyper Turnkey solution, ULTIM8 Sportsbook iFrame,  Infinite Casino Aggregation, and Platform Acceler8 suite, featuring its proprietary affiliate management platform, Aff.Tech.

With a geo-specific approach to solutions, a focus on practical innovations, and an operator-first mindset, GR8 Tech helps its clients achieve measurable results in their target markets quickly and efficiently. Trusted by top operators worldwide, GR8 Tech has over 100 successful cases and earned multiple recognitions, including the title of the Best Sports Betting Provider in CEE by GamingTECH Awards 2025.

The post Heavyweight Club by GR8 Tech Signals New Era of Operator Ambition at iGB L!VE appeared first on European Gaming Industry News.

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