UK fintech startup TrueLayer has raised $130 million in its latest round of investment at a valuation above $1 billion, Reuters wrote, citing a statement from the company. Thus, the startup has achieved "unicorn" status.
US investment firm Tiger Global Management and payment service Stripe, Silicon Valley's most expensive private company, took part in the round.
TrueLayer allows fintech applications such as Revolut and Freetrade to connect to customer bank accounts using API technology. Through this, app users can make payments from their bank account or view their balance and transaction history, CNBC explained.
Companies like TrueLayer threaten the business model of Visa and Mastercard by allowing bank transfers to be initiated with much lower fees, the channel noted.
source: cnbc.com
US investment firm Tiger Global Management and payment service Stripe, Silicon Valley's most expensive private company, took part in the round.
TrueLayer allows fintech applications such as Revolut and Freetrade to connect to customer bank accounts using API technology. Through this, app users can make payments from their bank account or view their balance and transaction history, CNBC explained.
Companies like TrueLayer threaten the business model of Visa and Mastercard by allowing bank transfers to be initiated with much lower fees, the channel noted.
source: cnbc.com
