TrueLayer
London payments company enabling direct bank-account payments through open banking.
Founded in London in 2016, TrueLayer provides payment services that move money directly between bank accounts. Its Pay by Bank product uses open-banking infrastructure.
Last refreshed: 22 October 2026 · Appears in 1 active topic
Timeline for TrueLayer
Basecamp Research, TrueLayer and three regional firms raise
UK Startups and InnovationBackground
TrueLayer is a London-based payments company founded in 2016 by Francesco Simoneschi and Luca Martinetti. Its Pay by Bank product lets consumers pay businesses directly from their bank accounts through open-banking infrastructure. The company's services combine bank payments with financial and identity data to support transactions. [TrueLayer](https://TrueLayer.com/newsroom/announcements/italys-cdp-venture-capital-invests-in-TrueLayer/)
Businesses use its products to accept payments, make payouts and bring new customers onto their services. The company has a European focus, with Milan serving as an engineering centre alongside its London base. Its model gives merchants a way to receive money through bank-account connections. Building those connections and integrating payment functions into businesses' services are central to its role in the payments market. [Company profile](https://TrueLayer.com/newsroom/announcements/italys-cdp-venture-capital-invests-in-TrueLayer/)
Who led TrueLayer's October 2026 investment?
How does TrueLayer's Pay by Bank work?
Where does TrueLayer operate?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 22 October 2026. Editorial standards.