London-headquartered payments provider TrueLayer has agreed a deal to acquire Nordic-focused payments firm Zimpler.
The acquisition expands TrueLayer’s pan-European network and payment technology as the company looks to accelerate the shift from legacy card payments to faster and more secure payments via Pay by Bank.
The acquisition of Zimpler grows TrueLayer’s customer base to more than 20 million users and adds coverage across key markets such as Sweden and Finland, as well as additional account-to-account (A2A) capabilities through the Swish payment rail integration.
TrueLayer co-founder and CEO Francesco Simoneschi commented: “I am excited to welcome the Zimpler team to TrueLayer. We’ve long admired their progress, and we’re excited to add such an incredible group of builders and payment experts to the TrueLayer team.
“We’re not just expanding our footprint in the Nordics, we’re combining talent, technology, and scale to accelerate pay by bank adoption across the continent, and further strengthening pay by bank as a force of disruption that is changing how the world pays.”
Founded in Sweden in 2012 by Johan Friis and Kristofer Ekman Sinclair, Zimpler connects businesses with over 350 million customer bank accounts across more than 25 markets.
“Joining forces with TrueLayer is a fantastic opportunity to build the leading Pay by Bank provider in Europe,” said Zimpler CEO Johan Strand. “TrueLayer has a proven track record of innovation and a powerful network. Our combined strengths will allow us to offer an even more compelling proposition to the market.
“Joining TrueLayer will enable us to reach new heights and drive the next wave of growth in the industry. At the same time, we remain firmly anchored in Sweden, with our local license and expertise ensuring continuity for our customers.”
The transaction remains subject to regulatory approval, with the change in control submitted to the Swedish Financial Supervisory Authority, Finansinspektionen.
Founded in 2016, TrueLayer is currently live across 22 countries and works with some of the biggest companies in the iGaming sector, including Flutter Entertainment and evoke’s William Hill. Other non-gaming clients include Ryanair, Just Eat, Revolut, Wise, lastminute.com and Papa Johns.