Previous investors Northzone and Anthemis also chipped in, bringing the total investment raised by the company to date to USD 47 million.
TrueLayer provides an interface between financial institutions and third-party applications over an API. The company says it will use the investment to continue to expand its open banking platform as it aims to connect the majority of European banks by the end of 2019.
The startup says this will enable developers to build banking and fintech propositions that use account aggregation, payment initiation, bank account verification and more features. Founded in 2016, TrueLayer has already partnered with Monzo, Zopa, ClearScore, and Plum.
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