Two of Trustly’s biggest backers are putting more money behind the Swedish open-banking payments company. Nordic Capital, already the firm’s lead shareholder, and Alfvén & Didrikson, another existing investor, have supplied a fresh $40M equity commitment, Trustly said.
Trustly expects the round to close in November 2026, and it says the proceeds will go toward new AI-centered products. Holders beyond the two are not being shut out: the company told investors that its remaining shareholders may also take part. Trustly has drawn more than $400M in funding to date and counts BlackRock among its investors.
The new money lands only weeks after news that the company had shed roughly 200 roles, about a quarter of its workforce, following a revenue slide of more than $50M the year before. Chief executive Johan Tjärnberg read the commitment as a vote of confidence in the company’s direction.
Trustly’s technology sits in the open-banking lane: shoppers authorize a transfer straight from their bank account and skip cards and payment apps. That places it in competition with card networks such as Visa and Mastercard. Europe’s account-to-account market is consolidating as regulators push the model into the mainstream, and scale is becoming the deciding factor.
The wager is that a slimmer cost base and AI-led products will let the firm defend its turf against both the card networks and a growing field of payments challengers.
