insight detail
Wilson Sonsini Advises TrueLayer on $130 Million Financing
- 09/21/21
- Client Highlights
- International
- Financial Services
- Fintech
On September 21, 2021, London-based open banking pioneer TrueLayer announced that it has raised $130 million in a round led by Tiger Global Management, with participation by Stripe. Wilson Sonsini Goodrich & Rosati advised TrueLayer on the financing.
TrueLayer provides technology for developers to enable a range of open-banking-based services. Millions of consumers and businesses already use TrueLayer to pay for goods and services; in 2021, the company has processed billions of pounds in payments and seen 400 percent growth in monthly volume and 800 percent growth in monthly value as it expands across Europe. The proceeds from the new fundraise will allow TrueLayer to bring open banking payments to new businesses, supercharging mainstream adoption through industries such as e-commerce and subscriptions.
The Wilson Sonsini team that advised TrueLayer on the financing includes Mike Labriola, Josh Kaplan, Jose Campos, and Betty Rosenbaum.
For more information, please see this blog post from TrueLayer’s CEO and co-founder, Francesco Simoneschi.
