Trustly acquires SlimPay for €70 Million to expand into recurring payments

Trustly, a Stockholm-based global payments method has Parisian recurring payment collection startup SlimPay in a deal worth €70 million according to Bloomberg.

The acquisition sets the stage for Trustly to expand beyond account-to-account (A2A) payments and will leverage SlimPay's SEPA direct-debit capabilities, specifically in the realm of recurring revenues, i.e. subscriptions, expertise. 

European direct debit transactions totaled over €10 trillion in 2022 alone, 80 percent of which occurred in markets that the combined entity of Trustly and SlimPay operate in.

"We are thrilled that SlimPay is joining Trustly. SlimPay’s SEPA solution for modern Direct Debit in combination with the optimised experience of Trustly Azura will together be able to revolutionise the recurring payment experience and create a new industry standard," commented Trustly Group CEO Johan Tjänberg. "The addition of SlimPay is fully in-line with Trustly’s strategy to offer a unique 360 degrees embedded experience across all types of digital payments.“

Trustly was acquired by Nordic Capital in 2018 for a reported €700 million.

Lead image provided via Trustly.