Observed Signal · Oct 8, 2026 · Funding · Source: Tech.eu (European Tech & Deals) · Impact: 2/5 · Sentiment: Positive
TrueLayer Raises $27M Led by CDP Venture Capital
UK-based open banking payments fintech TrueLayer has secured a $27 million investment round led by Italy's CDP Venture Capital, with participation from new and existing investors. The company, backed by Stripe and Tiger Global, aims to strengthen its presence in Italy, where it already employs about 70 people in Milan. The funds will support further expansion and hiring through 2027. TrueLayer, founded in 2016 by Italians Francesco Simoneschi and Luca Martinetti, offers account-to-account payments as an alternative to card networks like Visa and Mastercard. The company has raised approximately $350 million in total.
TrueLayer's $27M funding round is significant for the open banking and payment technology sector, indicating investor confidence and potential expansion in Italy. While not directly AdTech, it relates to the broader digital commerce infrastructure that supports advertising and marketing transactions.
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Key Takeaways & Evidence Grounding
- TrueLayer raised $27 million in a funding round led by CDP Venture Capital
- TrueLayer is backed by Stripe and Tiger Global
- TrueLayer employs around 70 people in Italy, with Milan as an engineering hub
- The company has raised approximately $350 million in total
- TrueLayer plans to continue hiring in Italy through 2027
Connected Companies & Entities
4 Entities mapped“Backed by Stripe and Tiger Global...”
“Backed by Stripe and Tiger Global...”
“alternative to going through card giant intermediaries Visa and MasterCard...”
“alternative to going through card giant intermediaries Visa and MasterCard...”
Ontology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
UK FinTech Ryft secures €23M Series B
Manchester-based payments company Ryft has raised €23 million in a Series B funding round led by Gresham House Ventures, with participation from existing investors Pembroke VCT and Ingenii Capital. The round aims to accelerate the company's expansion into European markets and the US, and to support product development. Ryft builds payment solutions for marketplaces, platforms, and multi-location businesses, handling seller onboarding, recurring billing, automated split payments, and cross-border payouts through a single integration. The company has tripled processing volume over the past 12 months and serves over 6,500 businesses, including Epos Now and the Disasters Emergency Committee. Ryft has applied for an EU license from the Malta Financial Services Authority to passport its services across the European Economic Area.
Yapily CEO Prefers Sidelines amid Open Banking Consolidation
Yapily, a UK-based open banking infrastructure startup backed by Lakestar, reported improved financials for 2025, with turnover rising from £6.7m to £16.7m and a swing from a £16.2m loss to a £355,000 profit. CEO Stefano Vaccino attributes growth to a lean operation and increased revenue from existing customers including Revolut, Intuit, Adyen, and Google. The company, profitable since 2025, last raised a $51m Series B in 2021 led by Sapphire Ventures. Amid expected consolidation in the open banking sector, Vaccino stated a preference to remain on the sidelines and focus on organic growth. He highlighted upcoming catalysts such as Commercial Variable Recurring Payments (CVRPs) and the EU's Financial Data Access (FiDA) framework, while noting recent acquisitions like Paypoint's purchase of obconnect and TrueLayer's acquisitions of in3 and Zimpler.
Eureka! Venture Launches €20M DeepTech Fund in Italy
Milan-based Eureka! Venture has launched Eureka! Fund II – Deep Tech Lazio, a €20 million early-stage fund investing in DeepTech startups from pre-seed through seed and other early-stage rounds. The fund is managed by Eureka! Venture, with Lazio Innova as anchor investor committing €16 million. The fund aims to support spin-offs, startups, and innovative SMEs with proprietary technologies, focusing on areas like climate change, energy transition, sustainability, advanced manufacturing, AI, and Physical AI. The fund features an innovative asymmetric profit and loss allocation mechanism to attract private investors. Eureka! Venture has raised over €190 million across multiple funds, including BlackSheep Fund for marketing and advertising software. The new fund will prioritize companies with active presence in Lazio and aims to strengthen the regional ecosystem.
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