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Truelayer, another Italian unicorn in London

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Truelayer, startup founded by Francesco Simoneschi and Luca Martinetti in 2016, it closed a $ 130 million Series E investment round with Tiger Global and Stripe, for an overall valuation that exceeds one billion dollars.

This is the third startup founded by Italians and based in London becoming unicorn in recent months, after Depop and Soldo.

Truelayer has developed a platform for payments via open banking: with a few lines of code, it allows you to connect apps and banks to manage payments on the go without the need to enter all the data of a credit card. The technology developed by the company allows you to make immediate payments without any registration and without any card through solutions such as PayDirect, which allows companies to integrate the payment method (debit in current account) with a simple click. The user is then directed to the bank’s app, where he can authorize the payment: a kind of Rid, but instant.

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From i clients of Truelayer there are companies like Freetrade (investments), Revolut (online bank) and Cazoo (car buying). The founders had previously told 142 million euros from various investors, including Tencent and Temasek; the last round, worth 70 million dollars, dates back to last May.

Truelayer is currently active in Italy (where it seeks several engineers), England, Ireland, Germany, Spain and France: the capital raised will be used to expand the businesses served, accelerating the adoption of technology in sectors such as e-commerce and subscriptions.

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