Trustly

OverviewSuggest Edit

Trustly is a company specializing in the online banking payments. It enables customers to receive payments directly from consumer bank accounts, backed by bank-level security.
TypePrivate
Founded2008
HQStockholm, SE
Websitetrustly.net
Employee Ratings4

Latest Updates

Employees (est.) (Feb 2022)500
Revenue (FY, 2020)KR1.8 B(-17%)
Cybersecurity ratingAMore
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Key People/Management at Trustly

Johan Tjärnberg

Johan Tjärnberg

Chief Executive Officer
Oscar Berglund

Oscar Berglund

Chief Business Officer
John McLane

John McLane

Chief Operating Officer
Mats Backman

Mats Backman

Chief Financial Officer
Sara Berg

Sara Berg

Chief Legal and Regulatory Officer
Karim Ahmad

Karim Ahmad

Chief Technology and Product Officer
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Trustly Office Locations

Trustly has offices in Stockholm, San Carlos, Helsingfors, Köln and in 3 other locations
Stockholm, SE (HQ)
Rådmansgatan 40
Stockholm, SE
Norrtullsgatan 6, 7th Floor
Helsingfors, FI
Lilla Robertsgatan
Köln, DE
Subbelrather Str. 15
Sliema, MT
Tagliaferro Business Centre 14, 7th floor, Gaiety Lane c/w High Street
Sliema, MT
The Plaza Commercial Centre, Level 4, Bisazza Street
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Trustly Financials and Metrics

Summary Metrics

Founding Date

2008

Trustly total Funding

$28.8 m

Trustly latest funding size

$28.75 m

Time since last funding

8 years ago

Trustly investors

Trustly's latest funding round in November 2014 was reported to be $28.8 m. In total, Trustly has raised $28.8 m. Trustly's latest valuation is reported to be $1 b.
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Trustly Revenue

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Trustly's revenue was reported to be kr1.82 b in FY, 2020
SEK

Revenue (FY, 2020)

1.8b

Gross profit (FY, 2020)

1.3b

Gross profit margin (FY, 2020), %

69.5%

Net income (FY, 2020)

49.5m

EBIT (FY, 2020)

666.9m

Market valuation

1.0b

Cash (31-Dec-2020)

818.6m
SEKFY, 2018FY, 2019FY, 2020

Revenue

893.6m2.2b1.8b

Cost of goods sold

235.3m516.6m554.9m

Gross profit

658.3m1.7b1.3b

Gross profit Margin, %

74%77%70%
SEKFY, 2018FY, 2019FY, 2020

Cash

337.3m499.4m818.6m

Accounts Receivable

3.8m6.4m9.6m

Current Assets

1.2b700.9m940.2m

PP&E

25.7m26.2m22.4m
SEKFY, 2018FY, 2019FY, 2020

Net Income

289.2m160.6m49.5m

Cash From Operating Activities

223.4m169.3m843.7m

Purchases of PP&E

(19.3m)(13.1m)(7.8m)

Cash From Investing Activities

(19.2m)(13.1m)(72.0m)
SEKFY, 2018

Revenue/Employee

4.4m

Financial Leverage

1.6 x
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Trustly Operating Metrics

Jun, 2020Mar, 2022

Customers (Banks)

6.3 k

Merchants

6 k8.1 k

Offices

10

People Reached

525 m

Trustly Acquisitions / Subsidiaries

Company NameDateDeal Size
PayWithMyBankJune 13, 2019
EntercashJanuary 30, 2019
Anskar Technologies Costituenda Società
PlusPay Finland Oy
Trustly Austria GmbH
Trustly Belgium GCV
Trustly Czech Republic sro
Trustly Denmark ApS
Trustly Finland Oy
Trustly France SARL
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Trustly Revenue Breakdown

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Trustly revenue breakdown by business segment: 89.2% from Payment Services, 7.1% from Additional Services and 3.7% from Other

Trustly revenue breakdown by geographic segment: 96.2% from Northern and Western Europe and 3.8% from Other

Trustly Cybersecurity Score

Cybersecurity ratingPremium dataset

A

91/100

SecurityScorecard logo

Trustly Online and Social Media Presence

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Trustly News and Updates

Trustly acquires UK open banking vendor Ecospend

Swedish account-to-account payments platform Trustly has acquired UK open banking vendor Ecospend.

Trustly introduces a deferred settlement product for flexible payments

Trustly, the leading global payments platform for digital account-to-account transactions, is proud to introduce FlexPay by Trustly, a new product that gives consumers the flexibility to defer the settlement date of a debited amount to a date in the future.

Johan Tjärnberg appointed as CEO of Trustly

Oscar Berglund has decided to step down as CEO to assume a new role at Trustly as Chief Business Development Officer.

Azimo and Trustly bring open banking to migrant workers across Europe

Azimo, Europe’s leading digital money transfer service, has partnered with open banking payment provider Trustly to meet growing demand for cross-border payments in Europe.

Open Banking: Trustly On Taking North American Payments To New Heights

Founded in 2008 in Sweden, Trustly has already built a significant base in the European open banking industry, but in recent years has built a strong presence in North America.

Trustly signs Ikea for Open Banking payments

Trustly, the leading global payments platform for digital account-to-account transactions, is proud to announce a partnership with IKEA, the world’s largest furniture retailer.
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Trustly Frequently Asked Questions

  • When was Trustly founded?

    Trustly was founded in 2008.

  • Who are Trustly key executives?

    Trustly's key executives are Johan Tjärnberg, Oscar Berglund and John McLane.

  • How many employees does Trustly have?

    Trustly has 500 employees.

  • What is Trustly revenue?

    Latest Trustly annual revenue is kr1.8 b.

  • What is Trustly revenue per employee?

    Latest Trustly revenue per employee is kr3.6 m.

  • Who are Trustly competitors?

    Competitors of Trustly include Central Bank of the Islamic Republic of Iran, Credit Europe Bank and Primis Financial.

  • Where is Trustly headquarters?

    Trustly headquarters is located at Rådmansgatan 40, Stockholm.

  • Where are Trustly offices?

    Trustly has offices in Stockholm, San Carlos, Helsingfors, Köln and in 3 other locations.

  • How many offices does Trustly have?

    Trustly has 10 offices.