Observed Signal · Sep 17, 2026 · Layoffs · Source: Tech.eu (European Tech & Deals) · Impact: 2/5 · Sentiment: Negative
Swedish fintech Trustly to cut around 200 jobs
Swedish fintech Trustly is undergoing major changes, including cutting about 200 jobs (a quarter of its workforce), mostly in Brazil, as part of a restructuring. This follows a revenue decline of over $50 million last year, partly due to losing two major clients. To support its growth strategy, Trustly has secured over $40 million in equity commitments from key shareholders Nordic Capital and Alfvén & Didrikson, with the capital raise expected to conclude in November 2026. The funding will be used to develop new AI-powered products. Trustly, headquartered in Stockholm, employs over 800 staff, has raised over $438 million in total funding, and is backed by investors including BlackRock, Nordic Capital, Aberdeen Standard Investments, and the Investment Corporation of Dubai. Trustly uses open banking to enable direct bank account payments for merchants like Alibaba, PayPal, and Wise.
Trustly is a significant fintech company in the European open banking space, and job cuts of this scale signal potential market challenges, but the immediate impact on the ad tech industry is limited.
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Key Takeaways & Evidence Grounding
- Trustly cut about 200 jobs, roughly a quarter of its workforce, mostly in Brazil, after revenue fell by over $50 million last year.
- Trustly received over $40 million in equity commitments from shareholders Nordic Capital and Alfvén & Didrikson to fund growth, with the raise expected to close in November 2026.
- The funding will be used to develop new AI-powered products.
- Trustly employs over 800 staff globally and has raised over $438 million in total funding.
- Trustly is backed by BlackRock, Nordic Capital, Aberdeen Standard Investments, and the Investment Corporation of Dubai.
Connected Companies & Entities
8 Entities mapped“its other backers include Nordic Capital......”
“Trustly, which is backed by BlackRock......”
“its other backers include Nordic Capital, Aberdeen Standard Investments......”
“Trustly is used by thousands of merchants worldwide, including Alibaba, PayPal and Wise....”
“Trustly is used by thousands of merchants worldwide, including Alibaba, PayPal and Wise....”
“Trustly is used by thousands of merchants worldwide, including Alibaba, PayPal and Wise....”
“It is an alternative payment method to card giants Visa and MasterCard....”
“It is an alternative payment method to card giants Visa and MasterCard....”
Ontology Mapping & Concepts
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