Sweden based platform enabling merchants to better handle online transactions raised an undisclosed amount of funding led by BlackRock.
Trustly’s growth comes amid a bigger picture of how e-commerce is evolving as it continues to mature and become more ubiquitous — a trend that has been accelerated in the last several months as many have turned away from physically making purchases because of social distancing measures. Bank transfers as a method of payment are not at all common in some markets. But in others, this is a very common and well-used route. In Austria, Estonia, Finland, the Netherlands and Poland, a majority of consumers prefer to pay via bank transfer — respectively the rates are 50%, 50%, 40%, 60%, 45%, Trustly revealed, basing its figures on a number of data sources including some of its payment partners, Adyen, PPRO, Global Data and Worldpay. Oscar Berglund (CEO) said that the picture is a positive one for Trustly — and other companies that it competes with, including Klarna (another startup “unicorn” from Sweden, as it happens) — because it seems that bank-based transfers as a payment method is on the rise.