Trustly provides its services through TransferWise and PayPal, which means it’s got a pretty large distribution network. After signing several contracts with the first internet retailers in Sweden in 2008, this payment method soon enjoyed wide success and started expanding its offices to Malta only 2 years later.
At that time, their revenue grew by a whopping 200% and the company completed its first million transactions that same year. The next year, Trustly sold 25% of its shares to investment group Alfvén & Didrikson while continuing its amazing growth.
In 2014, Trustly signed a deal with Groupon and PayPal and introduced the Payout Express feature. That same year, the company reached 10 million transactions and became one of the fastest growing companies in Europe. In 2018, Nordic Capital bought more than 70% of their shares and gained control over the fintech company for a sum of around $700 million.