Category Archives: News

Bizzdesign expands Enterprise Architecture value proposition through acquisition of Edifit

Main Capital Partners

Bizzdesign, backed by Main Capital Partners, announces the acquisition of Edifit, an enterprise architecture software and consulting services provider.

Today, Bizzdesign announces the acquisition of Edifit, an enterprise architecture software and consulting services provider. Edifit marks the first step in the international buy-and-build strategy of Bizzdesign since its management teamed up with the strategic software investor Main Capital Partners. 

This strategic move aims to accelerate time-to-value and increase business impact for Bizzdesign’s customers, leveraging Edifit’s proven software suite and expert consulting capabilities. As a longstanding partner in Bizzdesign’s global partner and channel network, Edifit has consistently delivered high-impact business value to Bizzdesign customers. The seamless integration of Edifit’s software product suite with the Bizzdesign platform has been in high demand, offering enhanced control over governance and content publishing.

Edifit will become part of an enterprise architecture industry leader as Bizzdesign has repeatedly been used by analysts, including being named a 2022 Gartner® Magic Quadrant Leader for Enterprise Architecture Tools for the seventh consecutive time.

Eddie Walker, Chief Executive Officer of Edifit, expressed his enthusiasm: “Joining Bizzdesign, a recognized leader in enterprise architecture, marks an exciting milestone for Edifit. By aligning our expertise with Bizzdesign’s leadership, we can collectively provide unparalleled solutions and services to our customers. We’re thrilled to be part of this journey with Bizzdesign.””We’re excited to welcome Edifit to the Bizzdesign family,” said Nick

Reed, Chief Strategy Officer at Bizzdesign. “This acquisition opens new avenues for Bizzdesign’s growth, innovation, and customer success. With their exceptional product suite and consulting services, we’re expanding our offerings and can now deliver even greater value and innovation to our customers.”

Pieter van Bodegraven, Senior Partner at Main Capital Partners and Chairman of the Supervisory Board of Bizzdesign, concludes: “We strongly believe in bringing passionate entrepreneurs together to accelerate innovation for the benefit of their clients. Over the past 20 years, this has been a key value creation driver in the successful organic and buy-and-build growth strategies we have executed together with our business partners. Through the combination of Bizzdesign and Edifit, we will be able to leverage on the combined skills and expertise of both organizations, resulting in an even greater added value for the existing and new customers of the group. Finally, this combination results in a strong foundation for additional international expansion.”

Over the past 20 years, this has been a key value creation driver in the successful organic and buy-and-build growth strategies we have executed together with our business partners.

– Pieter van Bodegraven, Senior Partner at Main Capital Partners and Chairman of the Supervisory Board of Bizzdesign

About

Bizzdesign

Founded in 2000, Bizzdesign is the trusted global SaaS Enterprise Architecture platform and is recognized as a leader by major analyst firms. We help the world’s leading public and private organizations ensure the success of investment prioritization, transformation initiatives, and risk management. Bizzdesign helps architects and executives see a full multi-dimensional picture, find and design the right path and confidently execute their targeted future. Success should not be a matter of hope. It should be by design.

Edifit

Headquartered in Coventry (UK) and founded in 2012, Edifit offers a range of consulting, resourcing and accelerator services to enhance and augment the customer’s internal capability, including EA strategy & roadmaps, portfolio planning and solution architecture services. Next to its range of services, Edifit offers various proprietary add-in software products on top of the Bizzdesign platform.

Categories: News

AI-powered automation software AskUI raises €4.3 million in seed funding

Seedcamp

While automation has become ubiquitous all across business sectors, the innovation and customisation potential is massive. The new wave of AI technologies unlocks new opportunities for more user-friendly, powerful, and flexible solutions to cater to specific customer needs.

This is why we are excited to partner up with Jonas Menesklou (CEO) and Dominik Klotz (CTO), founders of AskUI, as they set out to build the next era of process automation by leveraging the power of AI. The Germany-based company merges the power and flexibility of advanced AI models with the beauty of Large Language Models and user-friendly experiences of a combined no-code and code approach.

On a mission to democratise and redefine process automation, AskUI aims to introduce a new era of automated digital solutions that are not just intuitive and visually appealing but also robust, adaptable, and user-friendly.

AskUI’s founders emphasise:

“By leveraging the power of words to automate any process, we intend to create a digital world where automation is for everyone, everywhere.

Creating an automation engine that serves all industries is an enormous undertaking. We have been working intensively on developing the cornerstone features that form the basis of process automation. But we’re not just checking boxes; we’re dissecting every aspect of automation and reimagining it into an exceptional experience. From system controls and UI comprehension to data scraping, we’re creating world-class, frictionless experiences.”

On why we backed AskUI, our Partner Sia Houchangnia comments:

“The opportunity around enterprise workflow automation is massive, and it’s a theme we’ve been actively investing in at Seedcamp. The technology that AskUI has developed over the past 2 years has the potential to change the game in this space. By combining the latest advancements in computer vision and LLM, they’ve developed features that truly reimagine the entire automation experience. We are delighted to back Jonas, Dominik, and the whole AskUI team alongside a great group of co-investors.”

We are excited to participate in AskUI’s €4.3 million seed funding round, led by Eurazeo, alongside 468 Capital, LEA Partners, APX, and existing angels Carsten Thoma and Christian Stiebner. With the new funding, the company plans to advance product development, release their first prompt-to-automation model, and amplify their go-to-market activities.

AskUI is also planning to grow the team and is currently looking for talented engineers and AI researchers.

For more information, visit askui.com.

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Trustly, backed by Nordic Capital, joins forces with SlimPay to revolutionise the recurring payments experience

Nordic Capital

Trustly, a global payment method, announces that it is joining forces with SlimPay, a European leader in recurring payments, to set a new standard in recurring payments for merchants and consumers across Europe and the UK. SlimPay’s platform combined with Trustly’s proprietary technology will together bring a new, exceptional payment experience to the region.

Trustly’s acquisition of SlimPay will facilitate error-free payment registration, better conversion and flexibility, enabling consumers to pay bills, subscribe to a service or opt for flexible payment plans. The product synergy will create an intuitive payment process for consumers leveraging the best of Trustly’s Account-to-Account (A2A) technology and SlimPay SEPA direct-debit capabilities.

In 2022, Direct Debits totaling over EUR 10 trillion were collected across Europe, with 80% of these transactions ocurring in markets where Trustly and SlimPay have combined operations. The combination will add to Trustly’s existing modern Direct Debit capability in the UK and Sweden and provide a comprehensive pan-European recururring payment service. Trustly and SlimPay will together improve the payments process for merchants and consumers in the Single Euro Payments Area (SEPA), including Germany, France, Spain and Italy.

The acquisition of SlimPay comes shortly after the successful launch of Trustly Azura, a revolutionary new technology and data engine that will improve the payments experience for merchants and consumers through personalisation and data optimisation. By adding SlimPay’s recurring payments and sophisticated data interface to its offering, Trustly expects to further accelerate the roll-out of Azura.

Johan Tjärnberg, Group CEO of Trustly, comments: “We are thrilled that SlimPay is joining Trustly. SlimPay’s SEPA solution for modern Direct Debit in combination with the optimised experience of Trustly Azura will together be able to revolutionise the recurring payment experience and create a new industry standard. The addition of SlimPay is fully in-line with Trustly’s strategy to offer a unique 360 degrees embedded experience across all types of digital payments.“

Jerome Traisnel, CEO of SlimPay, adds: “Together with Trustly, we will bring a new, streamlined payment experience to the European recurring payments space, creating an unrivalled network of merchants and consumers across the entire repeat payment economy. We look forward to working with Trustly to build an innovative and comprehensive platform across Europe.”

SlimPay, founded in 2010, is a European leader in recurring payments, offering digital payment solutions through innovative technologies to merchants and consumers across utility, financial services, and retail sectors. SlimPay is an authorised payment institution under ACPR supervision.

The transaction is subject to customary regulatory approvals. The parties have agreed to not disclose any financial details.

For more information, please contact:
Carlos Cancino
Communications Director, Trustly
tel: +46 70-216 77 85
e-mail: press@trustly.com

About Trustly
Founded in 2008, Trustly is a global leader in Open Banking Payments. Our digital account-to-account platform redefines the speed, simplicity and security of payments, linking some of the world’s most prominent merchants with consumers directly from their online banking accounts. Trustly can handle the entire payment journey, setting us apart from the competition and enabling us to offer an attractive alternative to the traditional card networks at a lower cost. Read more at www.trustly.com

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Measurlabs seeks to become a sector leader in Europe with a seed round of EUR 2.5 million

Tesi

Measurlabs is a laboratory analysis and testing service provider that helps R&D professionals get the tests they need easily in one place. The recent EUR 2.5 million growth funding will enable the company to scale services in the UK and other European countries and to develop new features to further automate its logistics and purchasing platform. The seed round was led by VentureFriends and joined by existing investors Lifeline Ventures, Tesi, and Curus.

“We are proud to continue supporting Measurlabs on their growth journey. Measurlabs’ unique service and extensive expertise bring significant value to customers by streamlining the high-friction industry of outsourced testing services. In fast-growing sectors like semiconductors and other novel materials the availability of high-quality analytical services is crucial in making product development processes seamless and bringing new products to the market rapidly. We are excited to continue alongside Measurlabs in their mission to support these companies”, comments Tuomas Rekonen, Investment Manager at Tesi.

Tesi first invested in the company in 2022. The investment was made from the Venture Bridge programme that was closed for initial investments in March the same year.

Read more:

 

Additional information:

Tuomas Rekonen, Investment Manager, Venture Capital Investments
tuomas.rekonen@tesi.fi
+358 40 7540 660

 

Tesi wants to raise Finland to the forefront of transformative economic growth. We develop the market, and work for the success of Finnish growth companies. We invest in private equity and venture capital funds, and also directly in growth companies. We provide long-running support, market insights, patient capital, and skilled ownership. tesi.fi | Twitter | LinkedIn | Newsletter

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Projective Group grows its team to over 1100 financial industry experts and further strengthens its service offering with the acquisition of Finance Club

GIMV
  • Projective Group’s team grows to over 1100 financial industry specialists, positioning the company as a leading, end-to-end consultancy firm for financial services in Europe.
  • Complementary with Talent service offering of Projective Group and other offerings in Data, Transformation, Risk & Compliance, and Payments.
  • Latest acquisition aligns with Projective Group’s core DNA and is the latest milestone of the buy-and-build strategy of the group.

1 September 2023, Brussels – In a significant move, financial services consulting company Projective Group has successfully acquired Finance Club, a respected Dutch Staffing & Talent organisation. This strategic acquisition catapults Projective Group’s team to an impressive count of over 1100 financial industry experts across Europe, affirming its unparalleled stronghold in the region’s financial services sector.
Founded in 2015 by Stijn van den Borne and Michiel Van Brussel, Finance Club is a young organisation driven by the ambition to become the best-in-class Staffing & Talent provider to the Dutch financial industry. Their expertise encompasses various domains such as Compliance (KYC & AML), Finance, Banking, Risk & Audit, PMO, and Data & Analytics. In a period of less than 8 years, the company has evolved to a team of 400+ professionals that are deployed at the tier 1 banks in the Netherlands.

Stefan Dierckx, CEO Projective Group said: “The addition of Finance Club to our group, signifies a strategic move towards our mission of becoming the premier partner for financial institutions across Europe. In addition to their expertise, they bring along a team of 400 specialists, augmenting our team to over 1100 professionals, all possessing a unique expertise in the financial industry. This level of expertise sets us apart and is nearly unmatched in the field.”

“From our initial discussions, it became clear that there was a strong synergy between our clients and expertise. This presented us with a chance to enhance the value we provide to our clients and create new paths for growth and opportunities both for Finance Club and Projective Group employees. This merger into the group embodies the idea, in every sense, that the whole is indeed greater than the sum of its parts.” – Stijn van den Borne, co-founder Finance Club.

Finance Club’s services seamlessly complement Projective Group’s existing Talent offering (Exellys) which is currently offered in Belgium, The Netherlands, and The United Kingdom. Furthermore, by blending Finance Club’s strengths in Staffing & Talent with Projective Group’s Talent and in-depth consulting expertise, they will be able to take on more responsibility, serve their clients even more effectively and generate durable outcomes as a complete solutions provider.

Michiel van Brussel, co-founder of Finance Club said: “We were ready for the next step in our journey, searching for an exciting new challenge that would
propel us forward not only within Dutch borders but also on an international scale. When Projective Group approached us, it was immediately evident that our offering, culture, aspirations, and outlook for the future were closely aligned. We’re very excited for what lies ahead.”

Through this recent acquisition, Projective Group solidifies its position as a driving force for change and excellence in the financial industry. This development also foreshadows further impactful initiatives on the horizon.

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Bridgepoint acquires Ports Group, a tech-enabled provider of IP management and brand protection solutions

Bridgepoint
  • Ports Group serves long-standing customer relationships built on a reputation for high-quality service and an attractive full-service offering.
  • The company has delivered impressive financial performance, achieving 27% revenue growth since 2018.
  • Bridgepoint will support Ports Group in its next phase of growth, with a focus on international expansion, continued service and product expansion, as well as leveraging M&A opportunities.

 

Bridgepoint has today announced that Bridgepoint Development Capital IV (“BDC” IV), a fund focused on investing in mid-market growth businesses, has agreed to make a majority investment in Ports Group, a leading provider of IP management and brand protection, headquartered in Sweden.

As part of the transaction, Priveq, a Swedish private equity firm, will sell its stake in Ports Group, where management and key employees within the group will reinvest alongside Bridgepoint. Financial terms of the transaction were not disclosed.

Ports Group operates a ‘one-stop-shop’, tech-enabled brand protection platform, delivering vital IP solutions across domain management, trademark management and web security. Their client base spans across SMEs to major enterprises.

Bridgepoint estimates that the global Domain and IP protection market is valued at some €6bn, with an annual growth rate of 6%. This growth is driven by increasing awareness of the value of IP assets and as the market shifts from traditional legal services to tech-enabled solutions.

Ports Group is well-positioned to capitalise on this large and growing market. On the back of a strong technology platform, full-service offering, loyal customer base and strong track record of financial performance, the company is expected to continue to deliver long-term revenue growth and set the standard with industry-leading offerings and service delivery.

The partnership builds on Bridgepoint’s growing track record and expertise within tech-enabled services, with other recent investments including LanguageWire, a leading language service provider and Achilles, a supply chain risk management provider.

Magdalena Bonde, CEO at Ports Group said:

“We are excited to have Bridgepoint on board as our new majority shareholder. We are confident that they will be a strong partner for Ports Group as we embark on our ambitious growth and development journey going forward. In a short period of time, Ports Group has established a European footprint, offering strong capabilities to serve clients on an international stage. We are pleased to have attracted Bridgepoint, who believes in our unique model, our strategic direction and our team.”

Johan Dahlfors, Partner and Head of the Nordics at BDC said:

“We are thrilled to be partnering with Ports Group, a distinguished leader in IP management and brand protection in the Nordic region with a growing footprint across Europe. Their broad service offering, tech-driven approach and platform addresses an underserved demand in the market. This means they are well-positioned which for long-term growth and potential consolidation opportunities in a fragmented market. With an ambitious vision for expansion across products and geographies and a strong international team, Ports Group is poised to reshape the landscape for digital brand protection and further its reputation as a leader.”

The transaction closed on 30 August 2023. It marks the twelfth platform investment by BDC IV and its second in the Nordics.

Ports Group was advised by EY Corporate Finance and Setterwalls Advokatbyrå.

Bridgepoint was advised by Lincoln International (Financial Adviser), Vinge (Legal Adviser), Alvarez & Marsal (Financial, Tax Due Diligence and Tax Structuring), EY-Parthenon (Commercial and Technology Due Diligence), Anthesis Group (ESG Due Diligence) and Marsh (Insurance Due Diligence).

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Balance Point Announces its Follow-On Investment in Concord Servicing

Balance Point Capital
Westport, CT, August 30, 2023 – Balance Point Capital Advisors, LLC (“Balance Point”), in conjunction with its affiliated fund, Balance Point Capital Partners V, L.P., is pleased to announce its follow-on investment in Concord Servicing Corporation (“Concord”, “the Company”), a portfolio company of Inverness Graham Investments (“IGI”). Balance Point provided a creative, flexible financing solution that facilitated Concord’s acquisition of Equiant.
Founded in 1988 and headquartered in Scottsdale, AZ, Concord is a full-scope loan servicer delivering innovative, flexible, and scalable portfolio servicing and SaaS solutions to meet the demands of loan originators and capital providers across multiple asset classes including home improvement, solar, energy efficiency, and vacation ownership.
Based in Chandler, Arizona, Equiant is a loan servicer in the vacation ownership market with a $1.5 billion loan portfolio including more than 175,000 individual consumer loans. Equiant offers software solutions and servicing expertise for loan account receivables, billing, collateral document management, backup servicing, securitizations, debt recovery and disaster recovery.
“Balance Point is excited to continue its partnership with IGI and the Company.  Both Concord and Equiant are established industry leaders, and the combined platform will benefit from increased scale and operational synergy,” said Balance Point Partner Adam Sauerteig.
Jason Alexander, CEO of Concord, said “Balance Point’s understanding and support of our business have been essential as we have continued to pursue our growth objectives, and their creative capital structuring was instrumental to completing this transaction. We are very pleased to continue our partnership with Balance Point.”
About Balance Point
Balance Point is an alternative investment manager focused on the lower middle market. With approximately $2.1 billion in total capital commitments, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. Balance Point takes a long-term, partnership approach to investing and is committed to building lasting relationships with its partners, management teams and intermediaries.
Balance Point is a registered investment advisor. Further information is available at www.balancepointcapital.com.

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Iconic Apparel Brands Ann Taylor, LOFT and Talbots Come Together as KnitWell Group

Sycamore
August 30, 2023

NEW YORK, NY (August 30, 2023) Sycamore Partners, a private equity firm specializing in consumer, distribution, and retail-related investments, today announced the formation of KnitWell Group (“KnitWell”), a new holding company comprising industry-leading apparel brands Ann Taylor, LOFT, and Talbots. Together, these brands generate more than $3 billion in annual sales. The Company will also continue to provide oversight and shared services to Lane Bryant, a leading plus-size women’s apparel brand. Together, these brands position KnitWell as one of the largest specialty apparel companies in the United States.

KnitWell’s name reflects the Company’s core belief that each strong brand is distinctive, but when put together they are a powerhouse retail organization dedicated to meeting customers where they are in their journey.

Lizanne Kindler, current Chief Executive Officer of Talbots, will lead KnitWell Group as Executive Chair and Chief Executive Officer. She is joined in the Office of the Executive Chair by a seasoned team of retail executives, and further supported by senior leaders at each of the brands – all of whom are dedicated to the unique needs of their customers.

“KnitWell is a collection of powerful brands that, in aggregate, have been providing customers with the fashions they want for nearly 300 years,” said Ms. Kindler. “Brands are propelled by a deep and meaningful connection with the customers they serve, and that is where we start and end each day. With that as our North Star, we know that this new structure will support our efforts to unite brands and people by providing greater resources and capabilities, economies of scale, and enhanced value. We are excited about the opportunities ahead and grateful for our more than 30,000 associates for being part of this next chapter.”

Stefan Kaluzny, Managing Director of Sycamore Partners, added, “Lizanne and the team have done an incredible job over the last decade reviving and growing these iconic American brands, first Talbots and most recently Ann Taylor and LOFT. The consistent and focused approach, which  leverages the replicable playbook this team has developed, is laying the foundation of success not only for the brands currently part of the KnitWell portfolio, but also for potential future brands. We look forward to our continued partnership with Lizanne and the entire team.”

Contacts

Sycamore Partners

Michael Freitag or Arielle Rothstein
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
media@sycamorepartners.com

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Gresham House Ventures has completed a £5mn investment into Branchspace, a leading technology consultancy and software provider working with airlines to enhance and transform their digital retailing capabilities.

Gresham House

Set against a backdrop of strongly rebounding air travel post-pandemic, Branchspace addresses a growing demand from airlines to create a modern retail offering and meet evolving customer needs for relevant, personalised shopping and self-service experiences.

Founded in 2013 and headquartered in London, Branchspace allows clients to create and manage personalised, data-driven digital commerce experiences to increase direct distribution and take greater ownership of the end-to-end customer journey.

Branchspace provides solutions across the entire tech stack including solutions architecture, digital performance reviews and UX/UI experience design, alongside a proprietary booking and conversion engine and dynamic retailing software platform, Triplake, which has gained significant traction since launching in 2021.

The investment will be used primarily to accelerate the growth of Branchspace’s comprehensive and best-in-class suite of software components to ensure travellers experience effortless website and mobile app navigation, booking, ancillary offerings, check-in, servicing and payments.

The deal, led by Benjamin Faulkner and Tom Makey, marks the first institutional investment into the company and continues a busy period of dealmaking for Gresham House Ventures. Recent deals this year include a £3mn investment into speech therapy platform Mable Therapy, a £3.5mn investment in sustainability software business Dayrize, a £4mn investment in neuro-inclusion solutions leader Cognassist and leading a £4.65mn investment round into climate impact data company Connect Earth.

Benjamin Faulkner, Associate Director at Gresham House Ventures said:

“As we witness a strong resurgence in air travel post-pandemic, airlines are determined to meet the ever-changing demands of their customers. Branchspace’s solutions align perfectly with this industry-wide need and, with the successful launch of their Triplake product, have brought a step change in the technology tools available for retailing travel across the globe.”

“Our investment in Branchspace underscores our commitment to supporting innovative businesses that empower industries through technology-driven solutions. The management team’s deep industry experience further bolsters our confidence in the company’s potential to revolutionise the airline sector’s online retail capabilities and we look forward to working with them to achieve this.”

Michael Huynh, Founder and Managing Director at Branchspace said:

“With Gresham House Ventures’ support, we will accelerate the development and deployment of our modular Triplake dynamic retailing platform, delivering the best possible end to end experience for travellers. We will also enhance our leading Triplake Control Hub further for airline teams to drive one-to-one propositions and experiment and optimise performance in real time. This investment marks a significant milestone in our growth journey, and we remain steadfast in our mission to break down barriers of legacy technology and thinking to bring innovation to the forefront of the industry.”

Branchspace was advised on the transaction by Strata Technology Partners LLP, an independent corporate finance partnership headquartered in London that provides capital raising services and mergers & acquisitions advice to ambitious technology and technology-enabled businesses.

 

 

Media enquiries

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Trustly, backed by Nordic Capital, joins forces with SlimPay to revolutionise the recurring payments experience

Nordic Capital

Trustly, a global payment method, announces that it is joining forces with SlimPay, a European leader in recurring payments, to set a new standard in recurring payments for merchants and consumers across Europe and the UK. SlimPay’s platform combined with Trustly’s proprietary technology will together bring a new, exceptional payment experience to the region.

Trustly’s acquisition of SlimPay will facilitate error-free payment registration, better conversion and flexibility, enabling consumers to pay bills, subscribe to a service or opt for flexible payment plans. The product synergy will create an intuitive payment process for consumers leveraging the best of Trustly’s Account-to-Account (A2A) technology and SlimPay SEPA direct-debit capabilities.

In 2022, Direct Debits totaling over EUR 10 trillion were collected across Europe, with 80% of these transactions occurring in markets where Trustly and SlimPay have combined operations. The combination will add to Trustly’s existing modern Direct Debit capability in the UK and Sweden and provide a comprehensive pan-European recurring payment service. Trustly and SlimPay will together improve the payments process for merchants and consumers in the Single Euro Payments Area (SEPA), including Germany, France, Spain and Italy.

The acquisition of SlimPay comes shortly after the successful launch of Trustly Azura, a revolutionary new technology and data engine that will improve the payments experience for merchants and consumers through personalisation and data optimisation. By adding SlimPay’s recurring payments and sophisticated data interface to its offering, Trustly expects to further accelerate the roll-out of Azura.

Johan Tjärnberg, Group CEO of Trustly, comments: “We are thrilled that SlimPay is joining Trustly. SlimPay’s SEPA solution for modern Direct Debit in combination with the optimised experience of Trustly Azura will together be able to revolutionise the recurring payment experience and create a new industry standard. The addition of SlimPay is fully in-line with Trustly’s strategy to offer a unique 360 degrees embedded experience across all types of digital payments.“

Jerome Traisnel, CEO of SlimPay, adds: “Together with Trustly, we will bring a new, streamlined payment experience to the European recurring payments space, creating an unrivalled network of merchants and consumers across the entire repeat payment economy. We look forward to working with Trustly to build an innovative and comprehensive platform across Europe.”

SlimPay, founded in 2010, is a European leader in recurring payments, offering digital payment solutions through innovative technologies to merchants and consumers across utility, financial services, and retail sectors. SlimPay is an authorised payment institution under ACPR supervision.

The transaction is subject to customary regulatory approvals. The parties have agreed to not disclose any financial details.

For more information, please contact:
Carlos Cancino
Communications Director, Trustly
tel: +46 70-216 77 85
e-mail: press@trustly.com

About Trustly
Founded in 2008, Trustly is a global leader in Open Banking Payments. Our digital account-to-account platform redefines the speed, simplicity and security of payments, linking some of the world’s most prominent merchants with consumers directly from their online banking accounts. Trustly can handle the entire payment journey, setting us apart from the competition and enabling us to offer an attractive alternative to the traditional card networks at a lower cost. Read more at www.trustly.com

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