TrueLayer, a London startup that’s built a developer platform to make it easy for fintech companies to access bank APIs — and ride the PSD2 gravy train — has raised $3 million in Series A funding. The round was led by Anthemis Group, with participation from existing investor Connect Ventures, and will be used by TrueLayer to expand its team and increase coverage of supported banks before opening up beyond beta testers later this year.
The European Union’s Second Payment Services Directive (PSD2), due to be written into law by January 2018, will force banks operating within the EU to offer read and write access, so that, with your consent, third-party apps and services can access your bank account data, including being able to make and receive payments on your behalf.
Unsurprisingly, a plethora of fintech startups are already getting high on PSD2 fumes by building out a range of products ahead of time, from Personal Finance Manager apps (PFMs), credit and loans, to card-linked offers and cash-back, ready for when PSD2 legislation finally kicks in. TrueLayer, on the other hand, is…