rewrite this title TrueLayer to Acquire Pay-by-Bank Fintech Zimpler – Finovate

TrueLayer plans to acquire Sweden-based Zimpler, expanding its footprint in the Nordics and strengthening its position in Europe’s growing pay-by-bank sector.

The deal combines TrueLayer’s European network with Zimpler’s Nordic expertise and Swish integration, creating a strong alternative to traditional card payments.

The acquisition highlights the rise of account-to-account payments in the debt-averse Nordic region, where pay-by-bank adoption already leads the world.

UK open banking platform TrueLayer unveiled today that it will acquire Sweden-based pay-by-bank company Zimpler. The financial terms of the deal were undisclosed.

TrueLayer will leverage Zimpler’s strong standing in the Nordic market to expand its network and expertise. The purchase will support TrueLayer’s mission to build a payments alternative in Europe, which will in turn create competition and increase value for customers.

“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,” said TrueLayer Co-Founder and CEO Francesco Simoneschi.

Zimpler was founded in 2012 with a mission to democratize payments and enable growth for businesses across industries and markets. The company connects businesses with over 350 million customer bank accounts across more than 25 markets.

“Joining forces with TrueLayer is a fantastic opportunity to build the leading Pay by Bank provider in Europe,” said Zimpler CEO Johan Strand. “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 license and expertise ensuring continuity for our customers.”

Europe, specifically the Nordic region, has some of the highest adoption rates of account-to-account payments in the world. The debt-averse culture of the Nordics leads to low credit card usage. Only around 35% to 45% of Swedish adults have an active credit card. Because of this, pay-by-bank is widely adopted and accepted.

By acquiring Zimpler, TrueLayer will strengthen its pan-European network to more than 20 million users and will add coverage across key markets such as Sweden, Finland, and will add A2A capabilities through the Swish payment rail integration. This significantly strengthens TrueLayer’s pan-European network, accelerating the shift to smarter, safer, and more cost-effective payments.

TrueLayer’s acquisition of Zimpler consolidates pay-by-bank in Europe. As open banking matures, scale and network coverage are two key differentiators. Combining TrueLayer’s European reach with Zimpler’s Nordic expertise, plus its connectivity to Swedish mobile banking app Swish, the partnership creates a strong alternative to traditional card networks.

“I am excited to welcome the Zimpler team to TrueLayer,” said Simoneschi. “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.”

Photo by Robert Bye on Unsplash

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