TrueLayer says it has signed an agreement to acquire Zimpler, a Pay by Bank network in the Nordics. The acquisition will now aim bring together two of Europe’s Pay by Bank providers, further strengthening TrueLayer as a key player in the crowded European payments industry. This latest update could be considered a pivotal moment in the ongoing evolution of Pay by Bank across Europe.
By expanding TrueLayer’s pan-European network as well as deep expertise in payment technology with Zimpler’s strong position in the Nordic market, TrueLayer will be positioned to further accelerate “the shift from legacy card payments to smarter, faster, and more secure payments via Pay by Bank.”
With some of the highest adoption rates of account-to-account (A2A) payments anywhere in the world, the Nordic region has been “a proving ground for Pay by Bank.”
By acquiring Zimpler, TrueLayer will have 20 million+ users and will add coverage across key markets such “as Sweden, Finland, and will add additional A2A capabilities through the Swish payment rail integration.”
This strengthens TrueLayer’s pan-European network, “accelerating the shift to smarter, safer, and more cost-effective payments.”
Established back in 2012 by Johan Friis and Kristofer Ekman Sinclair, Zimpler has grown to become a Pay by Bank enabler operating in the Nordics.
TrueLayer is pleased to welcome Zimpler’s founders and shareholders on this journey – joining Fintechs such as Stripe, Northzone, and Tiger Global in backing its mission to “transform the way the world pays.”
The transaction is currently said to be subject to relevant regulatory approvals.
The change in control has been submitted to the Finansinspektionen -which is the Swedish Financial Supervisory Authority. When the outcome of the regulatory review is announced, they will communicate it through official channels.
Perella Weinberg acted as exclusive financial advisor to Zimpler on the transaction.