TrueLayer to acquire Zimpler in payment provider consolidation move
Pay-by-bank firm to expand its reach in the Nordics, with Zimpler already providing its services to a host of operators in the region
TrueLayer has agreed to acquire fellow payment provider Zimpler in a move the supplier said would create a European “powerhouse”.
The terms of the agreement were not disclosed.
TrueLayer, which positions itself as “Europe’s leading pay-by-bank network”, will ramp up its presence in the Nordics via the acquisition.pa
Zimpler was founded in 2012 by Johan Friis and Kristofer Ekman Sinclair and has emerged as a sector leader in the Nordics.
Both suppliers have igaming footprints, with TrueLayer working with the likes of Flutter Entertainment, Smarkets, Bragg and BetCity in the Netherlands.
Zimpler counts Ninja Casino and White Hat Gaming among its clients.
TrueLayer also works across ecommerce, financial services and crypto as part of its core business operations.
In February, TrueLayer announced it has reached the 10 million active customer mark, with a new customer joining “every three seconds”.
TrueLayer also processes around 40% of all UK pay-by-bank transactions and has processed more than $72bn in payments globally, according to the supplier.
The Zimpler transaction remains subject to regulatory approval, including the green light from the Swedish Financial Supervisory Authority.
Francesco Simoneschi, TrueLayer co-founder and CEO, said: “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.”
Johan Strand, Zimpler CEO, added: “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 licence and expertise ensuring continuity for our customers.”