TrueLayer secures 27 million dollars to expand open banking in Italy
United Kingdom open banking fintech TrueLayer has raised 27 million dollars in a new funding round led by Italian state backed investor CDP Venture Capital.
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United Kingdom open banking fintech TrueLayer has raised a 27 million dollar funding round to expand its presence in Italy. Tech.eu and FinTech Futures both reported that the investment was led by CDP Venture Capital, an Italian state backed investor participating as a first time backer. Tech.eu added that a consortium of new and existing investors also participated in the transaction. [1][2]
Tech.eu reported that TrueLayer uses open banking technology to facilitate account to account or pay by bank transactions, offering an alternative to traditional card networks such as Visa and Mastercard. According to Tech.eu, the London headquartered company was founded by Italian entrepreneurs Francesco Simoneschi and Luca Martinetti, and has previously received backing from Stripe and Tiger Global. [1][5]
TrueLayer is regulated by the UK Financial Conduct Authority and operates a network serving 20 million consumers as of late 2025. The platform processed over 40 percent of UK pay by bank transactions in 2025, offering developer tools and e-commerce plugins for platforms including WooCommerce, Shopify, and Magento. [5]
The funding allows TrueLayer to target further growth in the Italian market. Tech.eu noted that the strategic backing from Italy state backed investor aims to bolster the company commercial footprint across the region. [1][2]
In short
- TrueLayer raised 27 million dollars in a funding round led by Italy state backed CDP Venture Capital.
- The funding round included participation from a consortium of new and existing investors.
- TrueLayer processes open banking account to account transactions as an alternative to Visa and Mastercard.
- The capital will be used to expand TrueLayer operations and market presence in Italy.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]TrueLayer captures $27M investment, as targets Italy expansionTech.eu, 14h ago (the report this story comes from)
- [2]TrueLayer targets growth in Italy with $27m investment led by CDP Venture CapitalFinTech Futures, 12h ago
Background
- [3]Hedge fund on Wikipedia
- [4]Kingdom of Italy on Wikipedia
- [5]TrueLayer on Grokipedia
- [6]Italy on Grokipedia
Our newsroom writes these reports with the help of software, from the 6 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
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