Sweden-based payment start-up Trustly has secured new investment from several investors to support its investment in infrastructure and global expansion.

In the latest funding round, BlackRock Private Equity Partners and a group of institutional investors became minority shareholders in Trustly.

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The company did not divulge financial details of the investment. However, Nordic Capital , which acquired Trustly in 2018, will continue to remain the majority shareholder.

Nordic Capital Advisors partner Fredrik Näslund said: “It is a testament to Trustly’s amazing success that Nordic Capital is able to attract such a consortium of world-class investors.

“Nordic Capital welcomes our new partners as co-investors and looks forward to continuing a successful journey with Trustly.”

Established in 2008, Trustly provides account to account payment service. The service allows customers to direct payments to merchants from their online banking accounts.

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According to its website, the payments start-up processes more than nine million payments monthly.

It has around 400 employees across Europe, the US and Latin America.

Trustly CEO Oscar Berglund said: “At Trustly, we’re leveraging local bank-to-bank payment rails to build a global online banking payments network that enables people to pay directly from their bank accounts in a safe and convenient manner.

“We welcome BlackRock and the other investors as minority shareholders in Trustly. With their support, we will double-down on developing the online banking payments solution that our merchants and billers and their customers love.”