Trustly
Trustly operates the world's largest Pay by Bank network, connecting 110M+ consumers across 30+ countries to 9,000+ merchants through a proprietary Open Banking stack. The platform enables bank-based payments in about 20 seconds without apps or account creation, achieving a 98% conversion rate and 100% instant settlements. Trustly also provides consumer insights and risk management tools through its unified technology platform.
- Financial Technology
- Software Only
Funding
Raised to date
$400MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
$40M across 1 disclosed round
$40M · Undisclosed
Announced Oct 2026 · from article date
Disclosed cumulative: $40M
Reported total $400M
Incomplete round history. $360M of the $400M reported total isn’t matched to a known round.
Founders
Founder details are not available yet.
Product
Problem
Traditional card-based payments carry high processing fees, fraud risks, and checkout friction that cause cart abandonment. Many consumers prefer paying directly from their bank accounts, but existing payment methods require manual entry, app installations, or added intermediaries that slow transactions and reduce conversion.
Solution
Trustly operates the world's largest Pay by Bank network, connecting 110M+ consumers across 30+ countries to merchants through a 100% proprietary Open Banking stack. The platform enables customers to select their bank, log in securely, and complete payment in about 20 seconds—without downloading an app or creating an account. Trustly provides real-time payment guarantees through a configurable risk engine, allowing merchants to control approval authority and manage fraud exposure per transaction, achieving a 98% conversion rate and 100% instant settlements. The system also generates consumer insights from spending patterns and affordability signals, helping merchants deliver targeted offers and optimize conversion.
Target Audience
Primary customers are e-commerce merchants, telecommunications companies, and financial institutions seeking lower-cost, high-conversion payment alternatives to cards, as well as businesses needing account verification, data insights, or payout solutions. Trustly serves 9,000+ merchants including PayPal, eBay, FanDuel, T-Mobile, and Coinbase.
Features
- Proprietary Open Banking technology processing 500+ transactions per second with low latency at peak times
- Guaranteed payment options configurable in real time through a risk engine with full merchant approval authority, achieving 100% capture rate
- Instant settlement with 100% capture rate and cross-device, cross-merchant consumer recognition
- Frictionless checkout flow: no app installation, no manual account entry, no wallet setup, with an average payment time of 20 seconds
- Insights data API revealing spending patterns and affordability signals for personalized merchant offers (Azura product)
- Tokenized bank information storage for recurring payments and "Remember Me" accelerated checkout
- Payout capabilities via online banking credentials or account information, including international transfers
- Recurring payments and direct debit support across 12,000+ banks in 33 markets