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.”
