Trustly boosts global presence with expansion into Canada and Australia

Specialist in online banking payments Trustly has continued its exponential growth announcing its expansion into Australia and Canada. 

The move into Australia marks the firm’s inaugural step into the Asia-Pacific region, while Canada strengthens its North American market coverage. 

CEO Oscar Berglund commented on the growth: “Expansion into both Australia and Canada is a major milestone in our ambitions to build a global online banking payments network. They are both large markets with great potential and we already see high demand from merchants that are looking for open banking solutions and a compelling alternative to card payments.”

The two markets represent a boost in Trustly’s plans to develop a global Online Banking Payments network, enhancing the group’s existing coverage in Europe and the US. 

The expansion comes after Trustly announced a strategic minority investment by BlackRock Private Equity, as it looked to strengthen its future expansions.      

The investment was secured through BlackRock’s private equity funds. Together with a consortium of institutional investors it diversified 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. 

Berglund added on that investment: “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.”