TrueLayer to Acquire Zimpler to Strengthen Pay by Bank Services in Europe
TrueLayer Plans Acquisition of Zimpler to Boost European Presence
TrueLayer, a prominent payment service provider in Europe, has announced an agreement to acquire Zimpler, another key player in the payments industry. Although the acquisition is still pending regulatory approval, TrueLayer views this move as a significant advancement toward fostering innovation within the financial technology sector.
Strengthening Pay by Bank Capabilities Across Europe
This acquisition will unite two of Europe’s most inventive Pay by Bank providers, positioning TrueLayer as a major challenger in the market. By combining forces, the companies aim to enhance their reach and solidify their position throughout the continent, particularly by leveraging Zimpler’s strong foothold in the Nordic region.
This merger is seen as a transformative step for the European Pay by Bank landscape. TrueLayer plans to capitalize on the Nordics’ high usage of account-to-account (A2A) payments, enabling the company to serve approximately 20 million users collectively and drive further expansion.
Post-acquisition, TrueLayer intends to roll out services across additional markets such as Sweden and Finland while introducing new A2A payment options, including integration with the Swish payment system.
The completion of this deal hinges on approval by the Swedish Financial Supervisory Authority, Finansinspektionen, with updates forthcoming following regulatory review.
Accelerating the Growth of Pay by Bank Services Throughout Europe
Francesco Simoneschi, co-founder and CEO of TrueLayer, emphasized that the acquisition is more than just an expansion into the Nordics. It aims to combine expert talent, advanced technology, and greater scale to speed up the adoption of Pay by Bank payment methods across Europe.
He noted, “Our goal is to amplify Pay by Bank adoption continent-wide, reinforcing its role as a disruptive force reshaping global payment systems.”
Simoneschi also expressed enthusiasm about integrating Zimpler into TrueLayer’s operations, recognizing the latter’s achievements and potential.
On the other side, Johan Strand, CEO of Zimpler, described the merger as an excellent opportunity for growth. He praised TrueLayer’s innovation-led approach and affirmed that the combined entity will continue to thrive while maintaining strong roots and licensing in Sweden to ensure customer consistency.
