City fintech startup Truelayer announced today that it has raised a staggering 70M from Coinbase exec Lee Fixels. The investment is one of the largest in London’s startup scene, and will help Truelayer to expand its operations into new markets. Founded in 2016, Truelayer has quickly become one of the leading players in the city’s fintech industry. Thanks to its innovative products and cutting-edge technology, the company has won over many customers in the financial sector. With this latest round of funding, Truelayer plans to take its business to the next level and become a global player in the fintech market!
What do we know about Truelayer?
-Truelayer was founded in 2016 and is one of the leading players in London’s fintech industry.
-The company has raised a staggering 70M from Coinbase exec Lee Fixels.
-Truelayer plans to use the investment to expand its operations into new markets and become a global player in the fintech market.
-Truelayer is known for its innovative products and cutting-edge technology.
With this latest round of funding, Truelayer is poised to take the fintech world by storm! We can’t wait to see what this startup will achieve in the years to come. Stay tuned for more updates on this story!
Existing TrueLayer investors
include Octopus Ventures, Northzone, Passion Capital, Anthemis Group and Seedcamp. The startup has now raised a total of £11 million. Coinbase Ventures is the corporate investment arm of US cryptocurrency exchange Coinbase.
The deal comes as London fintech firms continue to attract large sums of venture capital despite the UK’s looming departure from the European Union.
In the past year, some of the biggest deals in London’s startup scene have been in the fintech sector. In March, payments startup Paddle raised $12 million (€11 million) from Atomico. In May, digital banking startup Monese raised $13 million from Kinnevik and Virgin Group founder.
Coinbase is a major player in the cryptocurrency world
And its execs have been investing in a number of blockchain and crypto startups in recent years. In August, Coinbase Ventures led a $15 million (€13 million) investment in decentralized social network startup Blockstack.And in April, the firm participated in a $30 million (€27 million) funding round for bitcoin startup Abra.
Truelayer is just the latest London fintech startup to receive a large injection of cash from a major investor.
What do you think about this latest investment from Coinbase? Let us know in the comments below! Read more about Truelayer on their website. Check out some of their products