Nordic Capital targets growth with Trustly purchase
Private equity investor Nordic Capital Fund IX has struck a deal to acquire online payments provider Trustly.
Bridgepoint Development Capital, the largest shareholder in Trustly, will now dispose of its full equity interest in the company, but the management, founders and investment firm Alfvén & Didrikson will remain as significant shareholders.
Nordic Capital said the acquisition will support its goal of becoming the “leading global online banking payments provider”.
The purchase remains subject to approval by the Swedish Financial Supervisory Authority.
“Direct bank payments are the future of payments and Trustly is leading this transition,” Nordic Capital partner and advisor Fredrik Näslund said.
“Nordic Capital views Trustly as a highly strategic payment platform with unique capabilities.
“We intend to support the management team and founders in the journey to becoming the global account-to-account infrastructure player by providing capital and experience from our previous successful investments in payments.”
Oscar Berglund, chief executive of Trustly, added: “The shift towards online banking based payment solutions is only in its infancy and we are looking forward to continuing to innovate and execute so as to make it easier, safer and quicker for both consumers and merchants to make payments online.
“We are delighted to partner with Nordic Capital whose support will be of great value as we grow across merchant verticals, products and geographies.”
Financial terms of the deal were not disclosed.