Regulators are exerting pressure on the fintech company by requiring a more thorough examination of Trustly's customers.

Trustly Reports 42% Growth in Revenue in 2020 ahead of Q2 IPO

2021-08-26

Johanna Thompson

For the 2020 financial year, Trustly has reported revenue growth of 42%. The announcement comes ahead of their planned IPO in Q2 of 2021 which is valued at nearly €9 billion.

Pandemic helped surge digital transactions, Trustly’s MO.

For the majority of 2020, most people were forced to remain inside. Though some land-based casinos and betting shops opened for some of that time, most betting took place from home via Pay n Play online casinos.

Trustly easily became a household name for making instant payments for players in Countries such as Germany, Finland, Sweden, and the Netherlands. Beyond its success in the European market, Trustly partnered with several brands across continents to provide their service, which is equally safe as it is simple.

The surge in digital transactions led to Trustly becoming widely known, sought after, and highly valued. That’s apparent in the 42% revenue increase over just one year—a year in which most businesses struggled.

Nearing €200 million in net revenue with over €160 billion in processed transactions.

Trustly’s service accounted for over €160 billion in user transactions in 2020, increasing transaction volume by 43%.

The company works in partnership with several popular payment processors like PayPal, TransferWise (now called Wise), and Facebook as well as allowing the use of traditional bank accounts. With so many popular options for users to pay, Trustly has made funding online casino gameplay easier than it’s ever been.

In the US, alone, the company grew 3x in just the past three months. This is part of Trustly’s expansion efforts, which is it continue reaching into various markets. Currently, they operate in 30 countries.