Trustly revenues grew by 85% to EUR 20 million in 2015

05 Jul - 2016

Trustly revenues grew by 85% to EUR 20 million in 2015

Trustly managed 14 million transactions in 2015, a total of 15.9 billion SEK (EUR 1.7 billion) worth of payment transactions in 2015 versus 7.8 billion SEK (EUR 834 million) in 2014.

Trustly, the Swedish FinTech company that provides fast, simple and secure online payments direct from bank accounts, is pleased to announce that it has recorded an 85% increase in revenues in 2015, totaling 187.4 million SEK (EUR 20 million). During the year, Trustly processed 15.9 billion SEK (EUR 1.7 billion) worth of payment transactions versus 7.8 billion SEK (EUR 834 million) in 2014.

Carl Wilsson, co-founder and CEO of Trustly said: “Our rising transaction figures and revenue growth are continued proof of the quality of our products and the increased demand for online payments, directly from the bank account. Today’s online consumer expects payments to be instant and convenient. Our solution is the missing link between the online bank and the e-commerce industry.”

Trustly’s core products allow for real-time payments and instant pay-outs to and from the consumer’s bank account. On merchant checkout pages, Trustly allows consumers to pay for goods instantly across borders, straight from their bank accounts. Trustly lets consumers make payments from mobile, tablet or desktop devices benefitting from bank-level security while keeping execution simple. Money can be transferred in seconds, even during evenings and on weekends when the ordinary clearing system is closed.

“This is manifested through our partnership with the leading Swedish based, online bank and securities brokerage Avanza Bank. Their 500,000 customers can now deposit funds to their Avanza account in seconds. Before they had to wait a bank day or two,” Wilsson said.

“We focus on delivering the best pan-European payments solution for merchants and consumers alike. Following our recent geographical expansion, we are proud to have unrivalled payments coverage in Europe. We are also pleased to have recently opened an office in the UK, as we remain firmly committed to our strategy of expansion regardless of the recent referendum outcome. The UK is an important market for us, with major commercial potential and we look forward to growing our business here,” Wilsson said.

Trustly’s roster of partners includes PayPal, TransferWise, Adyen and Worldpay. The company operates across five main business areas: e-commerce, financial services, gaming, marketplaces and travel.

Other milestones reached in 2016/2015:

  • Opened an office in the UK
  • Expanded into 21 new markets, boosting its foothold to 29 geographies
  • Hired 65 new employees, reaching a total of 130
  • Entered partnership with iDEAL in the Netherlands
  • Andreas Bernström, Founder & CEO of Sinch, appointed as Chairman of the Board
  • Johan Nord appointed from Société Générale as Chief Commercial Officer
  • Jonas Palmquist appointed from private equity firm Scope Capital as Chief Financial Officer
  • Josef Darmark appointed from H&M as Head of Product
  • Selected by FinTechCity as one of the 50 companies in Europe destined to transform the future of financial services
  • Recognized as one of the hottest young tech companies in Sweden on “33-listan”
  • Awarded the DI Gasell as one of Sweden’s fastest-growing companies

About Trustly

Founded in 2008, Trustly Group AB is a Swedish FinTech company that provides fast, simple and secure online payments, direct from bank accounts. Its B2B payment solutions attract global merchants in five main segments: e­-commerce, travel, financial services, online marketplaces and gaming. FinTechCity London predicts that the company is one of the European companies destined to revolutionize the financial services sector. In 2015, Trustly was designated a Gazelle Company by Dagens Industri newspaper.

Trustly has 130 employees, offers its services in 29 countries and links together over 100 banks in Europe. Trustly is a Swedish payment institution under the supervision of the Swedish Financial Supervisory Authority, with a license to provide payment services within the EU/EEA. Read more at www.trustly.com.

Press contact

Stefan Backlund, Head of Marketing & Communication

Stefan Backlund

Head of Marketing & Communication
Marketing, communication, all media and press.

0046-70-8628489