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TrueLayer raises $70m to build the world’s most valuable open banking network

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TrueLayer, Europe’s leading open banking platform, today announced it has secured a $70m Series D investment round led by new investor Addition. The latest raise reflects the growing demand for its open banking-based services and marks another significant milestone for TrueLayer on its mission to open up finance, building an open banking network that brings together payments, financial data, and identity to redefine how people spend, save, and transact online.

Existing investors, including Anthemis Group, Connect Ventures, Mouro Capital, Northzone, and Temasek, also participated, with a significant increase to the company’s valuation. Additional investors in the round include Visionaries Club, Surojit Chatterjee (CPO Coinbase), Zack Kanter (CEO Stedi), Daniel Graf (ex-Uber, Google, Twitter) and David Avgi (ex-CEO SafeCharge, CEO UniPaaS). It brings the total investment to date in TrueLayer to $142m.

The new funding will be used to fuel global expansion and accelerate the development of premium open banking-based services that will continue to drive innovation and revenue growth for clients. It will also be used to expand TrueLayer’s engineering, product and commercial teams to meet the increasing global demand for its open banking platform.

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TrueLayer’s API-first platform accounts for more than half of all open banking traffic in the UK, Ireland and Spain, processing billions of pounds in payments. It powers services for some of Europe’s fastest-growing brands, including Revolut, Trading 212 and Payoneer.

TrueLayer has a market-leading payment conversion rate that is 22% higher than other providers, according to OpenBanking UK and other bank sources, and up to 40% higher than cards. Merchants offering TrueLayer as a payment method in their checkout have found that on average, 1 in 3 consumers chose to pay via TrueLayer. As a result, open banking is displacing other payment methods, such as cards, as the default payment option online.

Over the past 12 months, TrueLayer has expanded its services across 12 European markets, growing payment volumes by 600x, and adding hundreds of new customers across digital banking, eCommerce, trading and investment, wealth management, crypto and iGaming. It has continued to innovate, for example, with the recent launch of PayDirect, combining instant pay-in capabilities with instant pay-outs, to deliver a higher converting, lower fraud method for online payments.

“When Luca and I started TrueLayer in 2016, we imagined open banking becoming a new digital channel for solving cost and complexities around payments, digital identity, credit data and much more. We wanted to open up this newly built infrastructure to many businesses and consumers. It is such a joy to see our vision coming alive and open banking based payments quickly becoming the new normal,” commented Francesco Simoneschi, CEO and Co-Founder at TrueLayer.

TrueLayer is rapidly expanding as demand for its open banking platform increases, largely driven by consumer demand for digital financial services that work better for them, and give them more control over their financial lives.

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“We have achieved this milestone thanks to the hard work of our stellar team. Bringing radical new products into the hands of consumers and businesses is incredibly exciting,” explained Luca Martinetti,  Co-Founder and CTO at TrueLayer. “This new financial network we are building on top of open architectures has massive long term implications for the whole fintech ecosystem and we won’t compromise our vision in any way.”

“That is why it is so important to select investors that can help you to plan for the next 15 years, not the next 15 months,” added Simoneschi. “The Addition team thinks very long term and it has been such a pleasure working together. They complement the incredibly strong group of experienced backers who align with our vision of how financial services are evolving.”

Lee Fixel, Founder of Addition, commented: “TrueLayer is ideally positioned to benefit from the trends shaping the future of financial services as more and more companies embed digitally native payments into their platforms. We look forward to supporting the TrueLayer team as they scale their offering and drive continued innovation.”

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EQL Games

EQL Games and Gaming Corps Announce Agreement to Deliver Innovative Gaming Solutions to State Lotteries

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EQL Games has secured another strong content partnership with Gaming Corps, a listed innovative iGaming studio out of Sweden. With an emphasis on creating thrilling and unique adventures with mesmerizing graphics, every product Gaming Corps creates is designed to transport its players into a unique world of fun and excitement. EQL Games believes these games will be a great addition to the U.S. Lottery market knowing they’ll lead to uncharted realms of entertainment.

“Bringing Gaming Corps on as a provider to the EQL Games iLottery Aggregator represents an exciting step forward in our mission to bring unique, high-quality content to state lotteries,” said Brad Cummings, CEO of EQL Games. “Gaming Corps’ expertise in iGaming, along with their vibrant game portfolio, aligns perfectly with our vision of enhancing the lottery experience through dynamic, engaging content. Together, we’re creating new opportunities to engage lottery players with distinctive and immersive game experiences.”

Gaming Corps’ portfolio is a captivating mosaic of themes, stories, and adventures, with games designed for players across all demographics. From the mysteries of ancient civilizations to the frontiers of space exploration, the games span a diverse universe of themes that are sure to resonate with U.S. lottery players. While these products can currently be found in some of the top iGaming markets in the world, this agreement with EQL Games marks the first time their content will find a home in the lottery vertical.

“The US has always been a bit of a holy grail for game developers like us, which has been further reinforced as several state markets have been regulated,” said Juha Kauppinen, CEO of Gaming Corps. “The potential in the American market is enormous and we are thrilled to partner up with EQL Games and their impressive iLottery aggregation platform. We have high hopes that it will have a significant positive impact on our revenues. We are now working hard to make all our games available to US lotteries via the EQL Games platform.”

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This is the 17th studio partner EQL Games has added in support of its lottery-only aggregator. Built specifically with the needs of government lotteries in mind, this first-of-its-kind product is about more than product distribution. The EQL Aggregator is designed to allow lotteries to enjoy content from multiple studios while only having to interact with a single point of contact. This simplifies the process of adding new content to a lottery’s digital portfolio without having to scale up operations to meet the needs of multiple studio partners. The EQL Aggregator is currently operating in lotteries across two continents and will see further expansion throughout the next year.

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Betxico

Vibra Solutions becomes Betxico platform partner in Mexico

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Vibra Solutions, Latin America’s premier platform developer, powers Betxico’s sportsbook and iGaming offerings as its first major platform partner in Mexico.

The rapidly growing platform technology developer enables Betxico to offer its players one of the most advanced betting and gaming offerings in the region with full customization across any area of its site and integration with the industry’s most popular game providers from slots, crash, and table games to live casino.

The Betxico brand offers a wide range of real-money entertainment options, from sports betting to online casino games, with a responsible gaming-first approach for its customers and catering to a wide range of player preferences.

Vibra Solutions has experienced explosive growth since its launch just one year ago with multiple leading LatAm brands now powered by its advanced, flexible technology. Deliverables can range from a turnkey website with a quick turnaround, to an omnichannel custom-built solution. The goal is always the same: to provide each client with the solution and the level of response they need.

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Federico Saini, CCO Vibra Gaming, said: “We’re delighted that Betxico has put their faith in us to power their offering in Mexico. This achievement is thanks to the effort and dedication of all the team here.

“This launch is a great step for Vibra Solutions and opens many doors for continued growth across Mexico and the wider region. We’re making history and setting new standards in emerging markets. If we continue to push together, with the same energy and passion then this is just the beginning!”

Patricio Garza, Director of Operations at Betxico, said: “Vibra has a reputation of delivering excellence with a specific emphasis on LatAm so we knew from the get-go they were a partner we could trust. We’re very excited to launch the new platform on the Betxico brand and to see the results of our partnership.”

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Compliance Updates

IAGR confirms new Board members

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The International Association of Gaming Regulators (IAGR) has announced the appointment of four new trustees to its Board, each bringing unique expertise and leadership to strengthen IAGR’s global regulatory efforts:

  • Anders Dorph, Danish Gambling Authority (Europe)
  • Peter Kesitilwe Emolemo, Gambling Authority of Botswana (Africa)
  • Kevin Mullally, General Commercial Gaming Regulatory Authority (Asia/Oceania)
  • Louis Rogacki, New Jersey Division of Gaming Enforcement (North America)

IAGR President Ben Haden said, ‘I’m delighted to welcome our four new trustees to the IAGR Board. Their diverse expertise and leadership across different jurisdictions will bring fresh perspectives to our work, further strengthening our global approach to gaming regulation.

‘I look forward to collaborating with Peter, Louis, Kevin and Anders as we continue to foster innovation and drive forward effective, responsible regulation for the benefit of the global gaming community.

‘We also extend a big thank you to Trude Høgseth Felde and Mabutho Zwane for their dedicated service as they complete their terms on the Board, and I’m pleased to announce that Jason Lane will continue for another term as a Trustee.’

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As a leading forum for gaming regulators worldwide, IAGR enables members to meet, share information, discuss legislative developments, exchange views and learn best practices in gaming regulation.

In recent news, IAGR has also confirmed that its 2025 annual conference will be held in Toronto, Canada, from 20 to 23 October 2025, with registrations opening in early 2025.

The post IAGR confirms new Board members appeared first on European Gaming Industry News.

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