TrueLayer acquired In3 today. More from TrueLayer here.

We've always been drawn to founders with a particular DNA. People who identify a broken piece of infrastructure and become unable to ignore it. For them, it's not about the market opportunity or the TAM. It's about the thing being wrong and needing to be made right. Francesco and Luca operate like that.

For years now, TrueLayer has been winning at one thing: getting people to pay directly from their bank account instead of using a card. It's faster. It's cheaper. It works. They've built a network of 25 million consumers across 22 countries processing $150bn a year. That's real.But payments need credit. Sometimes you want to pay over time. That's been owned by cards and the fintech lenders for years. In3 does that better than most. So TrueLayer bought them, which means they can now offer both instant payments and buy-now-pay-later from the same bank connection. Same experience. Different capability.

Here's how Francesco, TrueLayer's co-founder and CEO, framed it: "TrueLayer with Pay-by-bank has been successfully challenging card dominance at checkout for years: today, we are doing for credit what we have already achieved for debit. For the first time, consumers can choose to pay instantly or over time, directly from their bank account, through the same pay-by-bank experience they already know."

Francesco and Luca got this from the beginning. Building a different payment network, entirely rooted in banks instead of card networks. They saw a market category before it existed. We backed them from day 0 because we believed in their gained insights, in their formidable deep technical capabilities and ability to architect structural competitive advantages that compounds over time.

Let’s go!