Global Payments

TrueLayer Secures $7.5M In Funding; United Overseas Bank Teams Up With Razer

The Axis

Welcome to The Axis, your late look at payments news from around the world. Coverage includes United Overseas Bank Limited (UOB) and Razer Inc. teaming up to launch Razer Pay in Singapore. In addition, the U.K.’s TrueLayer has secured a new round of funding, while Lativa’s and LLP Zaymer are working together to provide an opportunity to invest in installment loans.

U.K.-based TrueLayer, which provides application programming interfaces (APIs) for finance uses, has notched $7.5 million in funding through a round led by Northzone, TrueLayer said in an announcement. With the investment, TrueLayer plans on expanding in Europe, building new products and growing its team.

“Over the past few months, our entire team has worked exceptionally hard to develop our product and secure new clients and partnerships,” TrueLayer Co-founder and CEO Francesco Simoneschi said in the announcement. “This has enabled us to play a major role in the development of open banking in the U.K., and now, with this investment, we’ll be able to expand our service across Europe.”

And Europe’s peer-to-peer (P2P) lending platform and Kazakhstan LLP Zaymer are working together to provide an opportunity for investments in installment loans with TezCredit, said in an announcement. LLP Zaymer is familiar with the market: It has worked on non-banking lending in Kazakhstan since 2015.

“We are confident that investors will appreciate the opportunity to have greater profitability and better diversification of investments with preserved advantages of the fully automated investment process,” Founder Sergey Sedov said in an announcement. “At the same time, it will help us to expand business in Kazakhstan, as well as to improve the customer service.”

In other news, Singapore’s United Overseas Bank Limited (UOB) and Razer Inc. (Razer) are teaming up to roll out eWallet service Razer Pay, UOB said in an announcement. With the service, users will be able to top up with eNET’s debit or credit service or by Fast and Secure Transfers (FAST). While Razer Pay Singapore is scheduled to launch within the next few months, Razer Pay first went live in Malaysia earlier in July.


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