BlackRock Invests in Swedish Payments Fintech Trustly

BlackRock Private Equity Partners, the firm’s private equity division, and a group of institutional investors are becoming minority shareholders in Swedish online account-to-account Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term provider Trustly, according to market sources. Terms were not disclosed.

BlackRock Private Equity Partners was founded in 1988 and specializes in direct and fund investments.

The move diversifies the shareholder base of Trustly, which was acquired by Nordic Capital in 2018 in a deal rumoured to be worth around EUR700 million. According to TechCrunch, the new investment values the company at over $1 billion.

Nordic Capital remains the firm's majority shareholder but is now joined by Black Rock, Aberdeen Standard Investments, funds managed by Neuberger Berman, Investment Corporation of Dubai and RSIC.

Trustly

Trustly was founded in 2008 and offers Cross-Border Payments Cross-Border Payments Cross-border payments refer to transactions involving individuals, companies, banks or settlement institutions operating in at least two different countries.The concept of cross-border payment is not new however, despite its rise in importance in the 21st century.New technology and the growth of blockchain has brought the term cross-border payment into our daily conversations.Cross-border payments are an essential term that refers to any transaction involving private individuals’ companies, bank Cross-border payments refer to transactions involving individuals, companies, banks or settlement institutions operating in at least two different countries.The concept of cross-border payment is not new however, despite its rise in importance in the 21st century.New technology and the growth of blockchain has brought the term cross-border payment into our daily conversations.Cross-border payments are an essential term that refers to any transaction involving private individuals’ companies, bank Read this Term to and from consumer accounts at more than 6000 banks. Last year it merged with Silicon Valley-based PayWithMyBank to create a transatlantic payment network for consumers to pay for online shopping direct from their bank accounts.

Trustly has matured from three people in 2008 to over 350 employees today. With nine offices in Europe and the Americas, it processes more than 9 million payments monthly.

“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," Oscar Berglund, CEO at Trustly, said in a statement.