London-based open banking platform TrueLayer announced that it has secured US$130 million, earning the unicorn badge with a company valuation of more than US$ 1 billion. The funding round was joined by Tiger Global and Stripe.

This brings TrueLayer’s total funds raised to US$270 million having previously raised US$70 million during a Series D funding round in April this year.

The company has been authorised by the Central Bank of Ireland (CBI) as a Payments Institution and will soon set up an European headquarters in Dublin.

Francesco Simoneschi, CEO and Co-Founder of TrueLayer said,

“This new funding will allow us to bring open banking payments to new businesses, supercharging mainstream adoption through industries like ecommerce and subscriptions.”