Trustly Secures More Than $40m to Build AI-Powered Payments Business

Swedish fintech Trustly has secured more than $40 million in equity commitments from existing investors as it attempts to turn its payments infrastructure into a broader AI-powered business intelligence platform.

The investment comes from principal shareholder Nordic Capital and existing investor Alfvén & Didrikson, with the capital raise expected to close in November 2026. Trustly plans to use the funds to develop AI-powered products that can help businesses attract customers, improve retention and identify financial risks in real time.

The strategy represents a significant shift in where Trustly sees future value. Rather than competing only on the ability to move money between bank accounts, the company wants to make the data generated by those transactions commercially useful.

Trustly already operates a large open-banking network across Europe and North America, serving more than 9,000 merchants and connecting businesses with hundreds of millions of consumers. It processes more than $100 billion in annual payment volume, giving the company a substantial pool of transaction activity from which to build new services.

The funding also arrives during a period of restructuring. Trustly recently cut around 200 jobs, approximately a quarter of its workforce, after reporting a significant decline in revenue. The new investment therefore appears less like a simple expansion round and more like an attempt to build a leaner business around products with greater long-term revenue potential.

For the wider fintech market, Trustly's move highlights an important shift: payment companies increasingly need to do more than process transactions. Turning payment data into actionable intelligence could create new revenue streams while helping merchants make faster decisions about customers, conversion and risk.

If successful, Trustly could emerge not only as a payment provider, but as a technology partner that helps businesses understand what happens after a customer reaches the checkout.