Blackrock Joins the Trustly Shareholder Base

Trustly shareholders

writer icon Hanne Larsen       |   Investment     🕐 25. Jun. 2020

The Swedish online account-to-account payments provider, Trustly Grounp AB, announces that BlackRock Private Equity Partners are becoming minority shareholders in Trustly.

It happens through its private equity funds and accounts under management, together with a consortium of institutional investors, including among others, Aberdeen Standard Investments, funds managed by Neuberger Berman, Investment Corporation of Dubai and RSIC.

“We welcome BlackRock and the other investors as minority shareholders in Trustly. With their support, we will double-down on developing the online banking payments solution that our merchants and billers and their customers love,” said Oscar Berglund, CEO of Trustly.

Nordic Capital remains the majority shareholder in Trustly.

The transaction diversifies Trustly’s shareholder base and brings in additional long-term capital commitment to further support Trustly as it continues to invest in its products and infrastructure and expand globally.

Nordic Capital announced the acquisition of Trustly in March 2018 with the aim of supporting the expansion of the business internationally.

“It is a testament to Trustly’s amazing success that Nordic Capital is able to attract such a consortium of world-class investors. Nordic Capital welcomes our new partners as co-investors and looks forward to continuing a successful journey with Trustly,” said Fredrik Näslund, Partner at Nordic Capital Advisors.

Citigroup Global Markets Limited acted as financial advisor in connection with this transaction.

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