Trustly raises new funding round backed by BlackRock

Although it has not yet been officially disclosed, TechCrunch sources assess that the amount is up to USD 1 billion, and that it will give BlackRock  and others participating in the investment (including Aberdeen Standard Investments, funds managed by Neuberger Berman, the Investment Corporation of Dubai and RSIC) a minority share in the business.

For some further background, private equity group Nordic Capital essentially acquired Trustly in 2018 for EUR 700 million (USD 794 million at today’s rates). This deal represents a partial exit. TechCrunch also postulates that the base valuation also rose with this transaction.