Truelayer hires new country manager for push into Sweden

European open banking platform Truelayer has announced it is expanding its business into Sweden and has hired former commercial manager Karl Hagner to lead its operations in the country.

In his new role as country manager, the former Adyen executive will direct the company’s commercial strategy from Stockholm, alongside Truelayer’s chief revenue officer Max Emilson.

The news comes shortly after the announcement last month that Truelayer has expanded into Austria, Belgium, Denmark, Finland and Portugal through PSD2-compliant APIs.

The fintech claims that this latest growth push has been motivated by increasing demand for the firm’s open banking platform, comprising payments, payouts and access to financial data, in Sweden.

“Open banking is [helping] to solve payments pain points in ecommerce, B2B, wealth and fintech,” Hagner said. “With a strong customer base and proven open banking expertise, [Truelayer] can support innovative services that will benefit Swedish consumers and businesses.”

CRO Emilson added that Truelayer is aiming to “supercharge” its European growth with the addition of “experienced leaders in France, Germany and now Sweden”.

Founded in 2016, and reaching unicorn status in 2021, the London-headquartered fintech aims to improve financial experiences for customers by helping businesses integrate payments and data into their apps or websites. With Revolut and Nutmeg among its client base, Truelayer now routes over half of all open banking traffic across the UK, Ireland and Spain.