Open banking FinTech TrueLayer has reached $1bn+ valuation after its latest fundraise.
In Brief:
It has raised $130mn.
The round was led by Tiger Global Management and also included Stripe.
So far, the company has raised a total of $270mn.
What does this mean?
Tiger Global has thrown its weight behind the business because, according to Partner Alex Cook, it believes that “the shift to alternative payment methods is accelerating... and we believe TrueLayer will play a central role in making these payment methods accessible.”
TrueLayer currently boasts 800% growth in monthly payment value and has doubled its customer base in 2021 by expanding across Europe.
