TrueLayer Enhances European Payments with Zimpler Acquisition

TrueLayer Acquires Zimpler to Transform European Payments

LONDON and STOCKHOLM – TrueLayer, a leading Pay by Bank network in Europe, has officially signed an agreement to acquire Zimpler, an emerging Pay by Bank pioneer in the Nordic region. This strategic acquisition aims to combine the strengths of two innovative providers, enhancing TrueLayer’s capability in the competitive payments industry.

A New Era for Pay by Bank in Europe

This momentous deal represents a significant step forward in the evolution of Pay by Bank services throughout Europe. By bringing together TrueLayer's extensive pan-European network with Zimpler’s established presence in the Nordic markets, the combined entity is poised to drive a major transition from outdated card payment systems to modern, efficient, account-to-account transactions.

Strengthening Market Presence and User Accessibility

The Nordic region has witnessed remarkable growth in account-to-account (A2A) payment adoption, underscoring its importance as a testing ground for Pay by Bank. Following this acquisition, TrueLayer will enhance its user base to over 20 million. This will also improve its operational reach in significant markets such as Sweden and Finland, further integrating advanced A2A capabilities through the Swish payment system.

A Mission to Revolutionize Payments

TrueLayer is on a mission to serve as a competitive alternative to traditional payment methods in Europe, ultimately fostering increased innovation, better competition, and enhanced value for businesses and consumers alike. With a commitment to pushing boundaries in payment technology, this acquisition underlines TrueLayer’s resolve to transform the payments landscape.

Since its establishment in 2012 by Johan Friis and Kristofer Ekman Sinclair, Zimpler has made a name for itself as a trustworthy Pay by Bank leader in the Nordic region. TrueLayer eagerly welcomes Zimpler’s founders and shareholders into their fold, joining notable supporters like Stripe and Tiger Global in the endeavor to redefine payment methods.

Francesco Simoneschi, Co-founder and CEO of TrueLayer, shared his enthusiasm about the acquisition: "I am excited to welcome the Zimpler team to TrueLayer. We've long admired their progress, and we're thrilled to bring such a talented group of payment experts into our company. Beyond expanding our Nordic footprint, we're unifying our technological capabilities and market reach to expedite the adoption of Pay by Bank across Europe, solidifying its position as a disruptive force in the industry."

Similarly, Zimpler’s CEO, Johan Strand, expresses his vision for the future: "Joining TrueLayer is an incredible opportunity to solidify our status as the leading Pay by Bank provider in Europe. TrueLayer’s reputation for innovation and robust network complements our strengths, allowing us to craft an even more compelling market proposition. Remaining anchored in Sweden, we focus on our customers while driving the next wave of growth in our industry."

Regulatory Approval and Future Steps

This transaction will undergo a review by regulatory bodies. Specifically, a change of control application has been forwarded to the Finansinspektionen, the Swedish Financial Supervisory Authority. The outcomes of this regulatory review will be communicated through official channels once available.

About TrueLayer

TrueLayer, established in London in 2016 by Francesco Simoneschi and Luca Martinetti, is recognized as Europe’s fastest-growing payment network. The company is dedicated to facilitating smarter, safer, and more efficient online payments through the integration of real-time banking data and financial analytics. Today, TrueLayer operates in 22 countries and is trusted by over 15 million users globally to handle their transactions. The company is committed to revolutionizing the payments landscape and won't cease its efforts until it has unlocked the full potential of payment technologies.

About Zimpler

Founded in Sweden in 2012, Zimpler has rapidly established itself as the fastest-growing Pay by Bank network in the Nordics. The company connects businesses with over 350 million customer bank accounts across more than 25 markets, simplifying transactions with instant deposits and payments. Zimpler’s mission is to democratize payments, fostering growth across various sectors. They have become a preferred partner for businesses prioritizing speed, compliance, and excellent customer service, transforming payments into a tool for growth.

Frequently Asked Questions

What is TrueLayer's position in the payment industry?

TrueLayer is one of the leading Pay by Bank networks in Europe, focusing on innovative payment solutions.

How will acquiring Zimpler affect TrueLayer's user base?

With the acquisition, TrueLayer will expand its user base to over 20 million, enhancing their market presence.

What is the significance of this acquisition?

This acquisition marks a notable shift toward modernizing payment systems in Europe, fostering competition and innovation.

Which markets will TrueLayer enhance its reach in?

TrueLayer will strengthen its presence in key Nordic markets, including Sweden and Finland.

How does Zimpler contribute to TrueLayer's mission?

Zimpler brings valuable technology and expertise that will help accelerate Pay by Bank adoption across Europe.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

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