TrueLayer, a UK open banking company whose pay-by-bank tools let shoppers pay merchants straight from their bank accounts, raised $27 million in a round led by CDP Venture Capital, the venture arm of Italy’s state-backed investment bank. CDP framed the deal as part of building payment infrastructure that Europe owns rather than relying on US networks like Visa and Mastercard. TrueLayer says it handles $150 billion a year in online payments across 22 countries, and it has spent this year moving into territory cards dominate, adding recurring payments in June and buying the Dutch BNPL provider in3.
