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June 14, 2019

Online payment firms Trustly and PayWithMyBank agree on merger

Swedish online payments firms Trustly has agreed to combine operations with US counterpart PayWithMyBank.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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The deal will enable US and Europe customers to make payments directly through their bank accounts instead of cards.

In Europe, Trustly supports payments across bank accounts at more than 3,000 banks in 29 markets.

Apart from Sweden, the firm has presence in Finland, Spain, Malta, Germany and the UK. It employs 240 staff.

Meanwhile, PayWithMyBank enables one to pay directly from the merchant site, without the requirement to offer bank account or billing data.

PayWithMyBank founder and CEO Alexandre Gonthier said: “Our large, US-headquartered customers were all asking us to expand our consumer coverage globally beyond the US.

“So, joining forces with Trustly, the established leader in our space in Europe, was a natural strategic next step for PayWithMyBank, the emerging leader in the US.”

At the combined group, Gonthier will assume the role of the US CEO.

Gonthier will manage the market development in the US.

Trustly CEO Oscar Berglund said: “This transformative merger creates the first and only online banking payments network with transatlantic coverage and accelerates our path towards global coverage.

“Alex was a co-creator of the online banking payments model in the year 2000 and we are very much looking forward to working with him and the impressive team at PayWithMyBank.”

In the new role, Gonthier will report to Berglund.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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