Trustly has announced a strategic minority investment by BlackRock Private Equity, as the firm seeks to strengthen its future expansions.
The investment has been secured through BlackRock’s private equity funds, together with a consortium of institutional investors.
As part of the deal, Aberdeen Standard Investments, funds managed by Neuberger Berman, Investment Corporation of Dubai and RSIC will become minority shareholders in Trustly.
The transaction diversifies Trustly’s shareholder base and brings in additional long-term capital commitment as it continues to invest in products and infrastructure on a global level.
Oscar Berglund, CEO of Trustly, commented: “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.”
Nordic Capital announced the acquisition of Trustly in March 2018 with the aim of supporting the expansion of the business internationally.
Fredrik Näslund, Partner at Nordic Capital Advisors, added: “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.”
Expert Analysis: Undertaking on this strategic minority investment can play a key role in accelerating and maximising the global engagement of Trustly, as the firm continues its focus on expansion. Marrying together the expertise and market knowledge of the firms involved in the collaboration leaves the group well-positioned for growth.