Nordic Capital-backed Trustly to list before summer – report

According to Swedish business daily Dagens Industri, majority owner Nordic Capital had mandated Goldman Sachs, JP Morgan and Carnegie to help with the process, and that the company could list before summer.

The report also said Trustly planned to list in Sweden, citing an unnamed source who said that Swedish institutions would like the company to remain in Stockholm.

Nordic Capital has been a majority owner of Trustly since March 2018. In June last year – BlackRock Private Equity Partners, in a consortium with Aberdeen Standard Investments, Neuberger Berman, Investment Corporation of Dubai and RSIC – acquired a minority stake in the company to further support its global expansion.

The reported valuation is nearly five times what was forecasted in August 2019, when Mergermarket reported that, given the business's projected growth rate of 80%, the valuation would be close to €2bn.

Founded in 2008 and headquartered in Stockholm, Trustly provides online payment services for merchants and online marketplaces. The company's system provides instant pay-in and pay-out services based on bank transfers, without going through card networks.

The company offers its services to 6,000 banks, and supports 600 million consumers across Europe and North America. It employs 400 staff in Europe, the US and Latin America.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Nordics
• Technology
• Nordic Capital
• BlackRock
• Aberdeen Standard Investments
• IPO