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<\/div>\nOnline payment platform Trustly’s global expansion plans just got a big boost.<\/p>\n
A high-powered slate of investors led by BlackRock<\/a> is buying a stake in Trustly<\/a>, the fast-growing Swedish FinTech, its new investment partners announced in a press release.<\/p>\n The BlackRock-led group is injecting capital into Trustly at a time when the company is building out its network, which enables merchants to accept bank transfers with the same ease as they now take credit card payments.<\/p>\n “At Trustly, we’re leveraging local bank-to-bank payment rails to build a global online banking payments network that enables people to pay directly from their bank accounts in a safe and convenient manner,” said Trustly CEO Oscar Berglund in a press release.<\/p>\n “We welcome BlackRock and the other investors as minority shareholders in Trustly,” Berglund said. “With their support, we will double-down on developing the online banking payments solution that our merchants and billers and their customers love.”<\/p>\n The investment deal values Trustly at more than $1 billion, according to TechCrunch<\/a>.<\/p>\n Trustly had revenue of more than $147 million in 2019, according to Nordic Capital’s website. In 2018, the private investment firm bought a majority stake in Trustly for nearly $800 million.<\/p>\n With the deal, Nordic remains a majority owner of Trustly, which merged last year with California-based rival PayWithMyBank<\/a>.<\/p>\n The BlackRock-led group of institutional investors includes Aberdeen Standard Investments, funds managed by Neuberger Berman, Investment Corporation of Dubai and RSIC.<\/p>\n “It is a testament to Trustly’s amazing success that Nordic Capital is able to attract such a consortium of world-class investors,” said Fredrik Näslund, partner at Nordic Capital Advisors, in a press statement. “Nordic Capital welcomes our new partners as co-investors and looks forward to continuing a successful journey with Trustly.”<\/p>\n Citigroup Global Markets Limited also took part in the transaction, acting as a financial advisor.<\/p>\n Tags:<\/b> Pymnts <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"See Campaign: <\/strong>https:\/\/www.paywithmybank.com\/<\/a>
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Online payment platform Trustly’s global expansion plans just got a big boost. A high-powered slate of investors led by BlackRock is buying a stake in Trustly, the fast-growing Swedish FinTech, its new investment partners announced in a press release. The BlackRock-led group is injecting capital into Trustly at a time when the company is building out its network, … Continue reading Trustly Nets Capital Infusion From Blackrock-led Investment Group<\/span><\/a> Continue Reading