Nordic Capital To Buy Online Payments Provider Trustly

BBR Staff Writer Published 15 March 2018

Private equity firm Nordic Capital has agreed to acquire European online payments provider, Trustly, for an undisclosed sum.

Bridgepoint Development Capital, which is the largest shareholder in Trustly, has divested the complete stake, while management, founders and investment firm Alfvén & Didrikson will continue as shareholders in Trustly.

Based in Stockholm of Sweden, Trustly provides cross-border payments to and from consumer bank accounts at over 3,000 banks in 29 European countries.

The company allows to connect businesses and consumers within e-commerce, travel, gaming and financial services.

Established in 2008, Trustly allows to carry out direct account-to-account payments in partnership with merchants across Europe.

The company processes over 3.5 million payments with payment volumes of SEK6bn ($731m) per month.

With around 200 employees, Trustly manages regional offices in Spain, Malta, Germany and the UK.

Trustly is also a licensed payment institution under the supervision of the Swedish Financial Supervisory Authority.

The deal is subject to customary regulatory approvals and approval by the Swedish Financial Supervisory Authority.

Trustly CEO Oscar Berglund said: “We are looking forward to continuing to innovate and execute so as to make it easier, safer and quicker for both consumers and merchants to make payments online.

“We are delighted to partner with Nordic Capital whose expert support will be of great value as we grow across merchant verticals, products and geographies.

Nordic Capital Funds advisor and partner Fredrik Näslund said: “We intend to support the management team and founders in the journey to become the leading global online banking payment champion, by providing capital and experience from previous successful investments in payments.”

Nordic Capital primarily invests in healthcare, technology and payments, financial services, industrial goods and services and consumer and retail sectors. Founded in 1989, Nordic Capital invested € 12bn in up to 100 investments.

Based in Jersey, Nordic Capital has advisory entities in Sweden, Denmark, Finland, Norway, Germany and the UK.


Image: Nordic Capital to acquire European online payments provider Trustly. Photo: courtesy of Trustly Group AB.

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