/payments

News and resources on payments systems, innovations and initiatives worldwide.

Sweden's Trustly sets course for potential €9 billion IPO

Swedish payments firm Trustly is reportedly plotting a second quarter IPO that could value the company at €9 billion.

  1 Be the first to comment

Sweden's Trustly sets course for potential €9 billion IPO

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Trustly’s owner, buyout group Nordic Capital, is working with Goldman Sachs, JP Morgan and Carnegie and is in the process of hiring more banks with a view to launching the IPO in late April or early May, according to unidentified sources cited by Reuters.

Like other payments processors in Europe, Trustly is riding a wave of investor interest as the Coronavirus pandemic pushes more transactions online.

Founded in 2008 and with offices in Sweden, Spain, Malta, Germany and Britain, Trsutly processes more than four million payments per month. The firm's revenues were around €130 million in 2019 and are on course to hit €200 million for 2020.

Nordic Capital bought a 70% stake in the company in 2018 at a valuation of roughly €700 million and merged it with US-based PayWithMyBank in 2019.

The firm's most recent financing round, led by BlackRock in June, commanded a price tag of about €2 billion.

Sponsored [New Report] Managing Fraud Risks with Synthetic Data: A Practical Approach for Businesses Services Industry

Related Company

Comments: (0)

[Webinar] Unifying Card Programmes: The cost-reduction imperativeFinextra Promoted[Webinar] Unifying Card Programmes: The cost-reduction imperative