TrueLayer, the London-based open-banking fintech, has closed a $27 million funding round led by Italy’s CDP Venture Capital, marking a significant milestone in the company’s strategy to deepen its footprint across Southern Europe. The investment also saw participation from existing backers Stripe and Tiger Global, reinforcing confidence in TrueLayer’s market position and growth trajectory.
The fresh capital will be directed toward strengthening TrueLayer’s presence in Italy through 2027, with plans to expand its workforce and establish additional engineering hubs in Milan. This localized investment strategy reflects the company’s commitment to building payment infrastructure with deep European roots and expertise.
Building European Payments Infrastructure
Founded in 2016, TrueLayer has established itself as a key player in the European fintech space, leveraging open-banking technology to provide payment solutions for businesses and developers. The company’s total funding now stands at $350 million, positioning it among the more substantially capitalized fintechs operating across the continent.
Francesco Simoneschi, Co-founder and Chief Executive Officer, emphasized the significance of the Italian investment in a statement: “We started TrueLayer with a simple belief: Europe deserves payment infrastructure built in Europe. Having Italy back that belief means a great deal to us personally, especially to our talented team in Milan, who work hard every day to build the future of European payments.”
The funding round underscores a broader trend within European venture capital, where public-sector investors like CDP Venture Capital are playing increasingly active roles in supporting homegrown fintech companies. CDP Venture Capital, the venture capital arm of Cassa Depositi e Prestiti, Italy’s national development bank, has been instrumental in backing technology companies aligned with European strategic priorities.
Italian Market Expansion
Italy represents a strategic market for TrueLayer’s expansion plans. The country’s payments sector has undergone significant transformation in recent years, driven by regulatory frameworks like PSD2 and the emergence of open-banking standards. TrueLayer’s investment signals confidence in the Italian market’s continued digitalization and the growing demand for modern payment infrastructure among businesses and financial institutions.
The expansion in Milan will enable TrueLayer to recruit engineering talent and deepen its technical capabilities in the region. Such investments in local engineering hubs have become increasingly common among European fintechs seeking to combine cost-effectiveness with access to skilled talent pools.
Broader European Context
TrueLayer’s expansion reflects a maturing European fintech ecosystem where companies are moving beyond initial product development into sustained regional growth. With $350 million in total funding, the company operates at the growth stage, targeting market expansion and capability building rather than survival-phase operations.
The involvement of both international venture investors like Tiger Global and European strategic investors like CDP Venture Capital demonstrates how capital from diverse sources is converging around European fintech opportunities. As European regulators continue refining open-banking frameworks and payment regulations, companies like TrueLayer are positioned to capture increasing demand for infrastructure solutions that facilitate digital payments and financial services across the continent.