BDC invests €23m in Trustly

The fresh capital will help Trustly's continued expansion into the European market – the company had previously revealed plans to roll out its services in Norway, France, Germany, the Netherlands, Portugal and the UK.

In September, BDC's sister team - Bridgepoint - bought foreign exchange provider Moneycorp for £212m from RBS Special Opportunities Fund.

Company
Based in Stockholm, Trustly develops and 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, rather than credit or debit cards.

According to Trustly, it processes payments of €1.1bn per annum. The business currently offers its services in Denmark, Sweden, Finland, Estonia, Poland, Italy and Germany.

Trustly was founded in 2008 and had revenues of SEK 45.6m last year, according to publicly available information.

People
Johan Dahlfors is a partner at BDC, while Carl Wilsson is the CEO of Trustly.

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• Topics
• Nordics
• Expansion
• Support services
• Sweden
• Bridgepoint