Swedish fintech Trustly receives $40M equity commitment from key shareholders

What happened

Swedish fintech Trustly today said it had received more than $40m in equity investment commitments from two key shareholders to underpin its planned growth strategy. The investment follows just weeks after it was revealed Trustly was cutting around 200 jobs , around a quarter of its overall headcount, after it saw its revenues fall by more than $50m last year.

The equity is being provided by its main shareholder, Nordic Capital, and another key shareholder, Alfvén & Didrikson. Trustly said it will use the funding to build new products leveraging AI.