Trustly secures $40M from top shareholders after cutting a quarter of staff
What's the deal? Swedish fintech Trustly has received more than $40 million in equity investment commitments from two key shareholders — Nordic CapitalDealroom has a profile for this one. Try Dealroom →, its main backer, and Alfvén & Didrikson — to fund its growth strategy. The capital raise is expected to conclude in November 2026.
What does Trustly do? It uses open banking technology to let customers pay directly from their bank account, without a card or app. The company positions itself as an alternative to card giants Visa and Mastercard.
Where will the money go? Trustly said it will use the funding to build new products leveraging AI. Its other existing shareholders will also be offered the chance to join the raise.
Why now? The investment lands just weeks after Trustly cut around 200 jobs — roughly a quarter of its headcount — following a revenue drop of more than $50 million last year.
The backdrop: Trustly is backed by BlackRock and has raised over $400 million to date. The new commitment sits in the middle of the pack for round sizes, a modest top-up rather than a blockbuster.
What they said: "This commitment from Nordic Capital and Alfvén & Didrikson is a vote of confidence in Trustly and where we're headed," said Johan Tjärnberg, group chief executive officer of Trustly.
The signal: The raise shows existing backers doubling down even as the business shrinks — capital to fund a leaner, AI-focused reset rather than aggressive expansion.
Read more: Tech.eu
Image credit: kalleboo
