Finance Breaking news Sweden's Trustly sets course for potential €9 billion IPO last financial news
Breaking-Finance.Com - Swedish payments firm Trustly is reportedly plotting a second quarter IPO that could value the company at €9 billion.
Breaking-Finance.Com - Swedish payments firm Trustly is reportedly plotting a second quarter IPO that could value the company at €9 billion. Trustly’s owner, buyout group Nordic Capital, is working with Goldman Sachs, JP Morgan and Carnegie and is in the process of hiring more banks with a view to launching the IPO in late April or early May, according to unidentified sources cited by Reuters.Like other payments processors in Europe, Trustly is riding a wave of investor interest as the Coronavirus pandemic pushes more transactions online.
. The firm's revenues were around €130 million in 2019 and are on course to hit €200 million for 2020.Nordic Capital bought a 70% stake in the company in 2018 at a valuation of roughly €700 million and merged it with US-based PayWithMyBank in 2019.The firm's most recent financing round, led by BlackRock in June, commanded a price tag of about €2 billion.
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