TrueLayer

A London company that lets businesses take payments directly from customers' bank accounts, using open banking. Founded in 2016.

About TrueLayer

TrueLayer runs a "Pay by Bank" network in Europe. Instead of entering a card number, you approve a payment in your own banking app. For businesses it can be cheaper and faster than cards, and it adds checks that help confirm who is paying. TrueLayer says it has more than 20 million users across its network, adds more than a million new users a month and operates in 22 countries.

It was founded in 2016 by Francesco Simoneschi and Luca Martinetti, and Simoneschi is the chief executive. It is headquartered in London. In 2025 it announced a deal to acquire the Swedish payments company Zimpler, and it has been expanding in Europe, including a Dublin operation.

Its products include Payments, Payouts, Bank on File, Signup+, Data and Verification. TrueLayer states that "we're on a mission to change the way the world pays". It has also welcomed the launch of the FCA's UK Payments Initiative, which gives a sense of how closely it works with UK regulation.

For young people, TrueLayer is a clear UK-founded fintech in the open banking world, with roles in engineering, product and partnerships. We did not find a published graduate scheme, so check its careers page.

What they do

• {'desc': "Pay by bank from a customer's account.", 'title': 'Payments'}
• {'desc': 'Send money out to bank accounts.', 'title': 'Payouts'}
• {'desc': 'Save a bank for repeat payments.', 'title': 'Bank on File'}
• {'desc': 'Account data and identity checks.', 'title': 'Data and verification'}

Key facts

• Founded: 2016 by Francesco Simoneschi and Luca Martinetti
• Headquarters: London, UK
• Mission (company wording): to change the way the world pays
• Reports more than 20 million users in 22 countries (company statement)

Website: truelayer.com