British fintech start-up TrueLayer raises $70 million to take on Visa and Mastercard

LONDON — British financial technology start-up TrueLayer says it’s raised $70 million in fresh funding, highlighting continued appetite from investors for fast-growing fintech firms.

TrueLayer lets fintech apps like Revolut and Freetrade connect with customers’ bank accounts using technology known as APIs, or application programming interfaces. This means users of those apps can then make payments from their bank or view balances and transactions from different accounts.

The company said its latest investment round was led by Addition, the venture capital firm founded by former Tiger Global partner Lee Fixel. Existing investors Anthemis Group, Connect Ventures, Mouro Capital, Northzone and Singapore’s Temasek also invested.

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