Trustly

Executive Summary

Stockholm-headquartered Trustly is Europe's leading account-to-account (A2A) payments network, enabling consumers to pay merchants directly from their bank accounts without cards or wallets. The company processes over $58B in annual transaction volume across 30+ markets, partnering with merchants in e-commerce, financial services, travel, and iGaming. Backed by Nordic Capital after its 2018 take-private, Trustly has scaled profitably across Europe and expanded into the US through its 2019 acquisition of PayWithMyBank. A long-anticipated IPO on Nasdaq Stockholm — originally shelved in 2021 amid regulatory scrutiny — is back on the table as open-banking adoption accelerates and the company posts record revenue growth.