Wilson Sonsini Advises TrueLayer on $70 Million Series D Funding

On April 8, 2021, TrueLayer, Europe’s leading open banking platform, announced it has secured a $70 million Series D investment round led by new investor Addition. Existing investors, Anthemis Group, Connect Ventures, Mouro Capital, Northzone, and Temasek, also participated, with a significant increase to the company’s valuation. Additional investors in the round include Visionaries Club, Coinbase CPO Surojit Chatterjee, Stedi CEO Zack Kanter, Daniel Graf, and UniPass CEO David Avgi. Wilson Sonsini Goodrich & Rosati advised TrueLayer on the transaction.

The latest raise reflects the growing demand for TrueLayer’s open banking-based services and marks another significant milestone for the company on its mission to open up finance, building an open banking network that brings together payments, financial data, and identity to redefine how people spend, save, and transact online. The new funding will be used to fuel global expansion and accelerate the development of premium open banking-based services that will continue to drive innovation and revenue growth for clients. It will also be used to expand TrueLayer’s engineering, product, and commercial teams to meet the increasing global demand for its open banking platform.

The Wilson Sonsini team that advised TrueLayer on the financing included Daniel Glazer, Michael Labriola, Jose Campos, Diviya Padman, Betty Rosenbaum, and Josh Kaplan.

For more information, please see TrueLayer’s press release.