Trustly gearing up for a potential €9 billion IPO in Q2 of 2021
With a potential value of €9 billion, the Swedish online—and now in-person—payments company Trustly is ready to prove its worth.
The goal is to conduct the IPO as early as April. Nordic Capital, the owner of Trustly, is already in talks with banks such as Goldman Sachs and JP Morgan for assistance.
2020 Was Perfect Timing for Trustly to Make Its Move
As unfortunate of a year as 2020 was for most people worldwide, it also provided fertile grounds for Trustly to sow its seeds. As both consumers and businesses sharply moved towards all-digital transactions, Trustly found itself in a profitable position.
Last year, Trustly reorganized personnel, made new partnerships, launched in more countries, and continued to innovate on their all-digital payment solution. It was a busy year for the company as they locked focus on growth at a time where they could be most relevant.
A Quick Recap of Trustly’s Service
For those that want a quick recap, Trustly is a Swedish company that created an incredibly secure and simple way to make online banking payments. Their method is more direct, cutting out the middlemen currently in place when making purchases (both online and in person with a card).
Trustly can benefit nearly all industries, but their focus has been on the online gambling scene in particular, notably with the success of Pay N Play Casinos. Previously, or for online casinos that don’t use Trustly, making payments or buying credits is a long and drawn-out process. The traditional method detracts from the gaming experience. Trustly’s method keeps players in the game longer, enhancing the experience.
Trustly’s Value Was Significantly Lower Just Over 2 Years Ago
When Nordic Capital purchased a 70% stake in the Swedish payment company back in 2018, Trustly was valued at €700 million. That’s not insignificant, but in comparison to today’s estimate of €9 billion, Trustly has come a long way in just over two years.
Even just last year, Trustly was valued at more than €1 billion in June.
Online Payment Solutions for an Increasingly Digital World
Even if 2020 forced us all to engage in it, we have been steadily growing into an all-digital world. From transaction to interaction, most of the ways in which we communicate with people and businesses is by digital means.
Trustly knows its purpose and sees the digital future ahead, preparing for it with great stride. April is just a few months away, and as we inch closer we will find out more about Trustly’s planned IPO and how it might affect the fintech industry.