Hyperlayer lands £30m to help legacy lenders take on fintechs
London-based fintech Hyperlayer has secured £30m in fresh funding to support its mission to help established banks compete with digital first rivals.
The firm’s tech is designed to work alongside existing banking infrastructure, which it says allows the legacy businesses to launch new products without complexity.
Ex-Morgan Stanley International chief Rob Rooney, who found Hyperlayer in early 2023, said the fresh injection will be used to bulk up product and engineering teams supporting international growth.
“The next 18 months will see us scaling rapidly with new solutions in retail and commercial banking, loyalty and rewards, wealth and asset management, and regtech markets worldwide,” he added.
The firm’s funding round was led by global equity specialist CDAM, along with participation from investors Mouro Capital, Iona Star and Flintlock Capital.
Hyperlayer to bulk up legacy banks offering
Hyperlayer has worked with Phoenix Group’s Standard Life on the future launch of a consumer money app targetted at people approaching or in early retirement.
The fintech’s consumer-facing platform allows users to organise their cash into “digital jam jars” which then enables them to access rewards at partner brands such as Asda, Morrisons and Starbucks.
The new raise is among the largest early stage European fintech rounds since 2024, placing it in the top ten per cent globally.
Scott Davies, who found CDAM in 2006, said the “sophistication” of Hyperlayer’s platform gives it “first-mover” advantage over competitors.
It comes as top banks look to bulk up their digital banking offering in a bid to compete with the likes of Monzo, Revolut and Zopa Bank.
Traditional high street giants have made major swings to beef up their tech, with Natwest partnering with OpenAI and Lloyds Banking Group launching its own “Centre for AI Innovation”.
The latest release from Pay.UK showed bank switchers were fleeing legacy lenders such as Barclays, Natwest and Halifax.
Monzo was able to capture a batch of the switchers with a net gain of over 8,000 in the first quarter of 2025.
However, legacy banking giant HSBC was also able to maintain a positive net gain of customers at 5,600.