# TrueLayer

> TrueLayer is a London-based, regulated open-banking payments network that lets businesses accept bank-to-bank payments, send payouts, verify account holders and access permissioned financial data through APIs and ready-made payment interfaces. Founded by childhood friends Francesco Simoneschi and Luca Martinetti in 2016, it began as a developer-friendly abstraction over fragmented bank APIs and has expanded into a broader network spanning single payments, recurring payments and credit. The company says its network now reaches more than 30 million consumers and processes more than $150 billion in annualised payment volume across 22 countries.

- **Founded:** 2016
- **Headquarters:** London, United Kingdom
- **Founders:** Francesco Simoneschi (CEO and co-founder), Luca Martinetti (CTO and co-founder)
- **Team size:** Approximately 320 employees in the supplied company data; UK statutory accounts reported an average of 248 employees for 2024 after an operational cost and headcount reduction.
- **Products:** Pay by Bank / Payments API, Data API, Verification, Payouts, Verified Payouts
- **Notable:** Reached more than 30 million consumers across 22 countries and more than $150 billion in annualised payment volume by 2026, according to the company., Handles nearly half of UK Pay by Bank transactions, according to TrueLayer., Became one of the first UK firms authorised for account-information and payment-initiation services under open banking and PSD2 in 2018.

## Products & services

- **Pay by Bank / Payments API** — Lets merchants accept secure account-to-account payments in the UK and Europe through hosted, embedded or mobile payment interfaces and APIs.
- **Data API** — Provides consented access to account, balance and transaction data, with enrichment for income, spending, cash-flow and risk signals.
- **Verification** — Checks account ownership and identity data to streamline onboarding, source-of-funds controls and payment verification.
- **Payouts** — Sends refunds and withdrawals over bank rails, with merchant-account controls and real-time status information.
- **Verified Payouts** — Matches withdrawals to the verified account used for deposits, combining instant payouts with closed-loop compliance controls.
- **Signup+** — Combines registration, identity and account verification with a first Pay by Bank deposit for financial-services and iGaming onboarding.
- **Bank on File** — Uses variable recurring payments and stored consent to enable one-click purchases, top-ups, bills and subscriptions without stored card details.
- **Pay by Bank Credit** — Adds account-to-account buy-now-pay-later at checkout through the acquisition of Dutch provider in3, with longer-duration credit planned.

## Achievements

- Reached more than 30 million consumers across 22 countries and more than $150 billion in annualised payment volume by 2026, according to the company.
- Handles nearly half of UK Pay by Bank transactions, according to TrueLayer.
- Became one of the first UK firms authorised for account-information and payment-initiation services under open banking and PSD2 in 2018.
- Named a leader in The Forrester New Wave for Open Banking Intermediaries in 2021.
- Won Payments Innovation of the Year at the 2024 FSTech Awards for its VRP API.
- Reported 63% revenue growth and 82% gross-profit growth in 2024, followed by 39% revenue growth and 52% volume growth in 2025.
- Completed the acquisition of Zimpler in March 2026 and acquired in3 in May 2026.
- Selected for the FCA's Supercharged Sandbox to test agentic Pay by Bank payments in July 2026.

## Latest updates

- **2026-08** — Published its framework for three levels of agentic payment autonomy while preparing to test agent-initiated Pay by Bank transactions in the FCA Supercharged Sandbox.
- **2026-07** — Selected as one of 21 companies in the FCA's Supercharged Sandbox to test how AI agents can securely initiate and complete Pay by Bank payments.
- **2026-06** — Launched Bank on File with Trading 212, IG Group, InvestEngine and East Lothian Housing Association.
- **2026-05** — Acquired Dutch fintech in3 to add account-to-account buy-now-pay-later and future longer-duration credit products.
- **2026-05** — Expanded Dublin operations, opened a new office and appointed Pamela Fegan as Ireland CEO.
- **2026-03** — Completed the acquisition of Nordic Pay by Bank provider Zimpler after Swedish regulatory approval.
- **2026-02** — Introduced Pay by Bank at eBay's UK checkout and received a strategic investment from eBay Ventures.
- **2026-01** — Partnered with bet365 and worked with Stripe and Kustom Checkout to expand Pay by Bank in Finland.

## Links

- Website: https://truelayer.com/
- LinkedIn: https://www.linkedin.com/company/truelayer
- Twitter/X: https://twitter.com/truelayer
- GitHub: https://github.com/TrueLayer
- Facebook: https://www.facebook.com/TrueLayerAPI/

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Profile page: https://yespress.io/truelayer
Published by YesPress — https://yespress.io
Last updated: 2026-09-06