TrueLayer Revenues Up 63% in 2024 as It Charts Path to Profitability

TrueLayer, Europe’s leading Pay by Bank provider, today published its 2024 Financial Performance, highlighting an increase in revenues (+63%) and gross profit (+82%).

The highlights from TrueLayer’s FY2024 financial data showcase a year of exceptional growth and momentum towards achieving profitability.

Key financial highlights from FY2024:

• Transactions: 200M+ annually, ~2x YoY; eCommerce up 5x.
• Total Payment Volume: $80B+ annualised, ~2x YoY.
• Users: 10M+ in 2024; growing by nearly 1M a month in 2025.
• Revenue: +63% YoY.
• Gross profit: +82% YoY.
• Path to Profitability: Monthly burn down 50% by year-end, supported by strong balance sheet

TrueLayer’s growth has been driven by increased adoption of its Pay by Bank solution across key sectors, particularly in ecommerce.

Francesco Simoneschi, CEO and Co-Founder of TrueLayer said:“2024 was a transformational year for TrueLayer. We almost doubled the number and the value of transactions processed on our network, while significantly increasing both revenue and gross profit. This momentum has continued into 2025 and has cemented TrueLayer as Europe’s fastest growing payments network and the category leader in Pay by Bank.

“With ecommerce adoption of Pay by Bank growing 5x year on year and major brands going live every month, it’s clear the checkout is undergoing a rapid transformation.TrueLayer is at the forefront of that shift, building a modern payments network that is faster, simpler and safer for businesses and consumers alike.”