Europe’s open banking payments network for Pay by Bank
TrueLayer is a UK open banking fintech that lets businesses onboard users, accept account-to-account payments, and make payouts without card networks. Founded in London in 2016 by Francesco Simoneschi and Luca Martinetti, it is backed by investors including Stripe and Tiger Global and has raised around $350 million in total. In October 2026 it announced a $27 million investment led by Italy’s CDP Venture Capital to deepen its presence in Italy, where roughly a quarter of its workforce sits in Milan.