Swedish payments provider Trustly plans USD 11 billion IPO

Monday 25 January 2021 14:42 CET | News

Sweden-based payments company Trustly has announced plans to launch an IPO in late April or early May 2021, with a valuation of up to USD 11 billion

Trustly’s revenues were around EUR 130 million in 2019 and will be around EUR 200 million for 2020 on a “double digit” core earnings (EBITDA) margin, company representatives stated, cited by Crowdfund Insider. The press release goes on to explain that the appeal of financial technology companies has increased during the COVID-19 pandemic as more people shop online and make payments digitally to avoid physical contact. Many fintech firms simultaneously explore an IPO and a deal with a special purpose acquisition company, which raises money in an IPO and then buys a private company to give it a listing.

Trustly, founded in 2008 and with offices in Sweden, Spain, Malta, Germany and Britain, processes more than 4 million payments per month. Nordic Capital bought a 70% stake in the company in 2018 at a valuation of roughly EUR 700 million and merged it with US-based PayWithMyBank in 2019.

In June 2020, Trustly was reportedly valued at about USD 2 billion in a financing round that included BlackRock, Investment Corporation of Dubai, Aberdeen Standard Investments, Neuberger Berman, and Retirement System Investment Commission.

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Keywords: Trustly, IPO, payments , Europe, Sweden, initial public offering, Sweden, Spain, Malta, Germany, UK, funding round, BlackRock, Investment Corporation of Dubai, Aberdeen Standard Investments, Neuberger Berman
Categories: Payments & Commerce
Countries: Sweden
This article is part of category

Payments & Commerce