TrueLayer Acquires In3 to Expand Open Banking Credit Offerings

TrueLayer, a prominent UK-based payments innovator backed by giants like Stripe and Tiger Global, has significantly expanded its European footprint and product suite through the acquisition of Dutch fintech firm In3. This strategic move integrates In3's specialized consumer credit capabilities, particularly its bank-payment-driven installment solutions, directly into TrueLayer's open banking platform. The acquisition positions TrueLayer as a unique player in the European market, offering a unified account-to-account payment solution that now encompasses both debit and credit options at the point of sale.

The integration aims to provide a compelling alternative to traditional card networks, such as Visa and MasterCard, by offering a more transparent and potentially fraud-resistant payment experience. While account-to-account payments, powered by open banking, are still gaining traction compared to established card transaction volumes – with UK open banking facilitating approximately 27 million payments in March 2025 against nearly 2 billion card transactions in February – their share of e-commerce transaction value is growing, reportedly reaching up to 17% in Europe. TrueLayer's acquisition of the 20-strong In3 team and technology is designed to accelerate this shift.

This development arrives at a time when European businesses are increasingly scrutinizing their reliance on non-European financial infrastructure. TrueLayer, which currently operates across 22 countries and processes over $150 billion in annualized payment volume, views this acquisition as a critical step in building a robust, independent European payment ecosystem. The company's existing merchant partners, including major names like Amazon, Just Eat Takeaway, and Coinbase, are expected to benefit from the expanded payment options.

The initial rollout following the acquisition will focus on a Buy Now, Pay Later (BNPL) offering, a segment of the consumer credit market that has seen substantial growth globally. Projections indicate the global BNPL market could reach hundreds of billions of dollars in the coming years, driven by consumer demand for flexible payment solutions. Following the BNPL launch, TrueLayer plans to introduce longer-duration credit products later in the year, further solidifying its position as a comprehensive payment solutions provider.

Francesco Simoneschi, CEO and co-founder of TrueLayer, emphasized the strategic importance of the deal, stating, "With the addition of In3's team and their deep expertise in consumer credit, we now have the people, the network and the products to build a truly independent European payments alternative to the card networks." This sentiment underscores the ambition to challenge incumbent payment rails and foster greater competition within the European fintech sector.

The acquisition of In3 by TrueLayer represents a significant consolidation within the European fintech space, particularly in the burgeoning account-to-account and open banking payments sector. By combining payment initiation with credit facilities, TrueLayer is creating a more integrated checkout experience that could appeal to both merchants seeking to reduce transaction costs and consumers desiring flexible payment terms. This move is likely to spur further innovation and M&A activity as companies seek to capture a larger share of the evolving digital payments market.