Trustly secures $40 million-plus from existing backers to build AI tools on top of its payments data
Nordic Capital and Alfvén & Didrikson issued binding equity commitments to the Swedish open-banking payments firm, which says it will use the capital to turn transaction data into AI-driven business intelligence products. The raise is expected to close in November.
Swedish open-banking payments company Trustly announced on October 2 that it has secured more than $40 million in irrevocable, legally binding equity commitment letters from its principal shareholder, private equity firm Nordic Capital, and existing shareholder Alfvén & Didrikson.
Trustly said the new capital is earmarked for accelerating development of AI-powered products that turn the payment data flowing through its network into what the company describes as actionable business intelligence for merchants — extending its core bank-to-bank payment-initiation business into a data and analytics layer on top of it.
The company said the raise is structured to close in November, and that other existing shareholders are being offered the opportunity to participate alongside Nordic Capital and Alfvén & Didrikson before the round is finalized. Trustly, which operates an account-to-account payments network built on open banking rails across Europe and the Americas, has previously counted Nordic Capital as its controlling shareholder following a 2018 investment.
The move follows a broader pattern this year of payments infrastructure firms raising capital specifically earmarked for AI product development rather than core payments expansion — a shift that reflects how much of the competitive pressure in open banking has moved toward what companies can do with the transaction data they already process, rather than the payment rails themselves.