TrueLayer, the London-based fintech startup founded in 2016 by the Italians Francesco Simoneschi (ceo) and Luca Martinetti (cto), recently announced a new Series C funding round of 35 million dollars by the Chinese tech investment holding company Tencent Holdings and the sovereign fund of Singapore Temasek (see here Simoneschi’s blog).
This round comes after the 7.5 million dollars one signed by the British venture capital fund Northzone in July 2018 (see here a previous post by BeBeez), after the one million dollars round in February 2017 by Connect Ventures and another 3 million dollars round by Anthemis, the British fintech venture capital firm, in 2016.
TrueLayer produces the so-called APIs (Application Programming Interfaces), that are computer interfaces that allow to develop applications and services that use data made available by the technological infrastructure of a third financial institution, typically a bank, by virtue of the provisions of the second Directive EU on payment services (PSD2), which essentially establishes the entry into the era of open banking and therefore the possibility for companies and individuals to access new information and payment services in real time on their current accounts.
