TrueLayer, founded in London in 2016 by Francesco Simoneschi and Luca Martinetti, builds the infrastructure that powers open banking payments across Europe. Its core product is a set of REST APIs that connect applications directly with banking systems, enabling real-time bank payments, financial data access, and identity verification. The platform processes over $116 billion in annualised payment volume and handles 40% of all UK Pay by Bank transactions, with API availability running at 99.95%.
The company employs around 277 people across offices in London, Milan, and Dublin. Its technical work spans payment infrastructure, API reliability, financial data pipelines, and identity services - all built on the premise of replacing legacy card-network infrastructure with payment rails designed for digital commerce. The founders brought experience from three previous companies together before starting TrueLayer.
TrueLayer operates at the intersection of fintech regulation and developer tooling. It builds on open banking frameworks to give developers direct, standardised access to bank account data and payment initiation - capabilities that were largely unavailable before regulatory change opened bank APIs to third parties. Security and transparency are stated core values, and the company has maintained a developer-first philosophy from its founding.