.
MergerLinks Header Logo

New Deal


Announced

Tencent and Temasek invested $35m in TrueLayer.

Financials

Edit Data
Transaction Value£27m
Consideration Type-
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

Edit

Tags

Edit

Minority

banking platform

FinTech

financial technology platform

Private

United Kingdom

Acquisition

Private Equity

Synopsis

Edit

Chinese technology giant Tencent and Temasek, a Singaporean holding company, invested $35m in TrueLayer, a fintech startup which sells open-banking software, which lets people share or aggregate their financial information from different providers. The company said it would use the funding to expand across Europe, with a goal of connecting most of the continent’s banks by the end of the year. It would consider expanding to Asia and Australia and so was eager to attract investors from that region, Francesco Simoneschi, TrueLayer’s co-founder and chief executive officer, said in the statement.

© COPYRIGHT 2024 MERGERLINKS LIMITED.

ALL RIGHTS RESERVED.

15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.

CONTACT US