Trustly announces strategic minority investment by a consortium of investors to support further expansion
- Investment Management , Payments , Online Banking
- 10.06.2020 09:15 am
BlackRock Private Equity Partners, through its private equity funds and accounts under management, together with a consortium of institutional investors, including among others, Aberdeen Standard Investments, funds managed by Neuberger Berman, Investment Corporation of Dubai and RSIC, are becoming minority shareholders in Trustly, the world’s leading online account-to-account (A2A) payments provider. Nordic Capital remains the majority shareholder in Trustly.
The transaction diversifies Trustly’s shareholder base and brings in additional long-term capital commitment to further support Trustly as it continues to invest in its products and infrastructure and expand globally.
Nordic Capital announced the acquisition of Trustly in March 2018 with the aim of supporting the expansion of the business internationally.
Oscar Berglund, CEO of Trustly, says: “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. We welcome BlackRock and the other investors as minority shareholders in Trustly. With their support, we will double-down on developing the online banking payments solution that our merchants and billers and their customers love.”
Fredrik Näslund, Partner at Nordic Capital Advisors, says: “It is a testament to Trustly’s amazing success that Nordic Capital is able to attract such a consortium of world-class investors. Nordic Capital welcomes our new partners as co-investors and looks forward to continuing a successful journey with Trustly.”
Citigroup Global Markets Limited acted as financial advisor in connection with this transaction.