Trustly Teams with Mintos Marketplace

Trustly Teams with Mintos Marketplace

Payment solutions company Trustly landed a new client in the peer-to-peer lending space this week. The Sweden-based company announced it has teamed up with Mintos, Europe’s largest P2P marketplace.

The collaboration will allow the almost-100,000 investors at the Latvia-based P2P platform to transfer funds from banks in 29 European countries in real time. Mintos anticipates the partnership will not only simplify but also speed up the process for investors.

In a statement, Mintos CEO and co-founder Martins Sulte commented on the importance of offering “fast and highly secure transfers” and meeting investors’ demand “for a seamless, fast, and simple user experience.” He added, “We are very pleased to be able to grow our offer with both an in-demand payment method and the unrivaled European coverage that Trustly provides.”

Johan Nord, Trustly CCO, discussed the value of synergies within fintech. He said that today’s partnership with Mintos “is an excellent example of how two financial technology businesses can partner to create value for investors by streamlining the transaction process, while also delivering the highest level of transaction security.”

Founded in 2008, Trustly supports card-not-present payments for online merchants and offers a secure way for consumers to transact using their online banking access credentials. At FinovateEurope 2017, the company debuted Direct Debit, a payment offering that removes the pain of entering payment card information by allowing users to transact using their current account by entering their bank login credentials.

Trustly works with more than 3,000 banks across Europe. The company has 215 employees across Sweden, Spain, Malta, Germany, and the U.K. Last month, the company teamed with proptech company Oscar Properties to help clients book and pay for their new apartment online.

Highlights of This Year’s Inc. 5000

Highlights of This Year’s Inc. 5000

Inc. has once again released its lists of the fastest-growing 5,000 private companies in the U.S. and Europe this week. A total of 13 Finovate alums made the U.S. list and 14 earned spots on the Europe list. To qualify*, companies were required to be privately-owned and independent.

Inc. 5,000 U.S.

The 5,000 companies on this year’s list collectively generated more than $206 billion in revenue. Here are the 13 Finovate alums that made the cut this year:

SeedInvest

  • Rank: 117
  • 2017 revenue: $4.7 million
  • 3-year growth: 33.8x
  • Founded: 2013
  • Employees: 30
  • Ranked number 4 in top financial services companies

SeedInvest demoed at FinovateSpring 2013.

Cardflight

  • Rank: 139
  • 2017 revenue: $5.1 million
  • 3-year growth: 29x
  • Founded: 2009
  • Employees: 192
  • Ranked number 5 in top financial services companies

CardFlight demoed at FinovateSpring 2013.

Alkami technology

  • Rank: 284
  • 2017 revenue: $26.8 million
  • 3-year growth: 17x
  • Founded: 2009
  • Employees: 299
  • Ranked number 10 in top Dallas companies

Alkami debuted under the name iThryv at FinovateSpring 2009.

Passport

  • Rank: 389
  • 2017 revenue: $12.3 million
  • 3-year growth: 12.6x
  • Founded: 2010
  • Employees: 96
  • Ranked number 4 in top Charlotte companies

Passport demoed at FinovateEurope 2016.

Emailage

  • Rank: 625
  • 2017 revenue: $16.6 million
  • 3-year growth: 8x
  • Founded: 2012
  • Employees: 79
  • Ranked number 6 in top security companies

Emailage demoed at FinovateSpring 2015.

Lighter Capital

  • Rank: 776
  • 2017 revenue: $11.9 million
  • 3-year growth: 6.5x
  • Founded: 2010
  • Employees: 39
  • Ranked number 11 in top Seattle companies

Lighter Capital demoed at FinovateFall 2013.

Tango Card

  • Rank: 912
  • 2017 revenue: $17 million
  • 3-year growth: 5.4x
  • Founded: 2009
  • Employees: 80
  • Ranked number 14 in top Seattle companies

Tango Card demoed at FinovateFall 2016.

WealthForge

  • Rank: 932
  • 2017 revenue: $8.9 million
  • 3-year growth: 5.3x
  • Founded: 2009
  • Employees: 29
  • Ranked number 6 in top Richmond, VA companies

WealthForge demoed at FinovateSpring 2016.

Unison

  • Rank: 1048
  • 2017 revenue: $2.3 million
  • 3-year growth: 4.7x
  • Founded: 2014
  • Employees: 10
  • Ranked number 4 in top Detroit companies

Unison demoed at FinovateFall 2017.

Acuity Systems

  • Rank: 1107
  • 2017 revenue: $12.6 million
  • 3-year growth: 4.5x
  • Founded: 2010
  • Employees: 26

Acuity Systems demoed at FinovateEurope 2013.

defi SOLUTIONS

  • Rank: 1176
  • 2017 revenue: $14.6 million
  • 3-year growth: 4.1x
  • Founded: 2012
  • Employees: 80

defi SOLUTIONS demoed at FinovateSpring 2014.

Interactions

  • Rank: 1550
  • 2017 revenue: $92.9 million
  • 3-year growth: 3x
  • Founded: 2004
  • Employees: 413

Interactions demoed at FinovateSpring 2014.

Cardlytics

  • Rank: 2886
  • 2017 revenue: $130.4 million
  • 3-year growth: 1.4x
  • Founded: 2008
  • Employees: 342

Cardlytics demoed at FinovateFall 2014. The company went public early this year.

Inc. 5,000 Europe

This is the fourth year in a row Inc. has ranked European countries. The rankings are based on three-year revenue growth. Here are the 14 Finovate alums that earned a spot on the list, including SumUp, which took the number one slot:

SumUp

  • Rank: 1
  • 2016 revenue: $63.7 million (€56 million)
  • 3-year growth: 143.7x
  • Founded 2011
  • Employees: 500

SumUp demoed at FinovateEurope 2013.

VATBox 

  • Rank: 91
  • 2016 revenue: $6.9 million (€6.1 million)
  • 3-year growth: 25x
  • Founded 2012
  • Employees: 140

VATBox demoed at FinovateEurope 2015.

Kantox 

  • Rank: 390
  • 2016 revenue: $4.9 million (€4.3 million)
  • 3-year growth: 12x
  • Founded 2011
  • Employees: 73

Kantox demoed at FinovateEurope 2013

HelpMyCash

  • Rank: 699
  • 2016 revenue: $2.96 million (€2.6 million)
  • 3-year growth: 8.3x
  • Founded 2007
  • Employees: 16

HelpMyCash demoed at FinovateEurope 2011.

Featurespace 

  • Rank: 901
  • 2016 revenue: $3.41 million (€3 million)
  • 3-year growth: 7x
  • Founded 2005
  • Employees: 62

Featurespace demoed at FinovateFall 2016.

Kalixa Payments 

  • Rank: 918
  • 2016 revenue: $42.3 million (€37.2 million)
  • 3-year growth: 7x
  • Founded 2008
  • Employees: 112

Kalixa demoed at FinovateEurope 2013.

Zopa

  • Rank: 1314
  • 2016 revenue: $46.3 million (€40.7 million)
  • 3-year growth: 5.4x
  • Founded 2004
  • Employees: 188

Zopa demoed at FinovateSpring 2008.

Feedzai

  • Rank: 1330
  • 2016 revenue: $13.8 million (€12.1 million)
  • 3-year growth: 5.4x
  • Founded 2008
  • Employees: 68

Feedzai demoed at FinovateEurope 2014.

Trustly

  • Rank: 1344
  • 2016 revenue: $36.7 million ( €32.3 million)
  • 3-year growth: 5.4x
  • Founded 2008
  • Employees: 83

Trustly demoed at FinovateEurope 2017.

Fenergo

  • Rank: 1882
  • 2016 revenue: $33.8 million ( €29.7 million)
  • 3-year growth: 3.8x
  • Founded 2012
  • Employees: 183

Fenergo demoed at FinovateEurope 2012.

Innofis

  • Rank: 2452
  • 2016 revenue: $8.2 million (€7.2 million)
  • 3-year growth: 2.6x
  • Founded 2012
  • Employees: 69

Innofis demoed at FinovateEurope 2016.

Quadient France 

  • Rank: 2966
  • 2016 revenue: $8.9 million (€7.8 million)
  • 3-year growth: 1.8x
  • Founded 2007
  • Employees: 21

Quadient demoed at FinovateEurope 2018.

True Potential

  • Rank: 3233
  • 2016 revenue: $88.5 million (€77.8 million)
  • 3-year growth: 1.5x
  • Founded 2007
  • Employees: 234

True Potential demoed at FinovateFall 2014.

Comarch

  • Rank: 4954
  • 2016 revenue: $35.6 million (€31.3 million)
  • 3-year growth: 59%
  • Founded 1978
  • Employees: 148

Comarch demoed at FinovateEurope 2017.


*Companies on the 2018 Inc. 5000 are ranked according to percentage revenue growth from 2014 to 2017. To qualify, companies must have been founded and generating revenue by March 31, 2014. They must be privately held, for-profit, and independent–not subsidiaries or divisions of other companies–as of December 31, 2017. (Since then, some on the list have gone public or been acquired.) The minimum revenue required for 2014 is $100,000; the minimum for 2017 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons.

Trustly Brings New Payment Options to Alpha Fintech’s AlphaHub Platform

Trustly Brings New Payment Options to Alpha Fintech’s AlphaHub Platform

European online payments innovator Trustly is celebrating its tenth birthday this week by partnering with Alpha Fintech. The deal will make Trustly’s payment solutions available to international banks, MSPs, and merchants using Alpha Fintech’s AlphaHub platform.

“Trustly wants to make account-to-account payments simple and secure for merchants and their customers,” Trustly Director of Partner Sales, Adam D. Bowman, said. “Partnering with Alpha Fintech supports this strategy thanks to Alpha Fintech’s one simple API, through which merchants can now access Trustly’s payment functionality. Alpha Fintech’s significant international reach will also enable Trustly to reach new merchants.”

The new partnership means that when customers choose Trustly during the checkout process, and indicate their preferred country, they will be shown a list of local banks partnered with Trustly that are able to offer real-time bank transfers. Customers choose their bank, log into their online banking platform, enter the amount of the payment, and confirm.

Chief Product Officer at Alpha Fintech Rónán Gallagher added “As more customers turn to bank-based payment methods, through the AlphaHub merchants will be able to offer this key payment method in markets as diverse as Australia, Singapore, and now 29 countries in Europe via a single integration providing a consistent user experience,”

Founded in 2008 and headquartered in Stockholm, Sweden, Trustly facilitates online payments for consumers in 29 European countries. Surpassing €10 billion in total processed volume last year, as well as launching its Direct Debit and Pay N Play products, Trustly was acquired by Nordic Capital this spring. 2017 also marked the return of Trustly to the Finovate stage, as the company demoed its Direct Debit solution at FinovateEurope.

Recognized earlier this year by The Financial Times as one of the fastest growing companies in Europe, Trustly partnered with German open payment platform optile in March, the same month the company furthered its expansion plans in Germany by earning TUV-certified status for legal data protection and IT security for its online banking e-payments method. Trustly began the year forging an agreement with Latvian national airline airBaltic that will enable customers to buy tickets directly from their bank accounts.

Finovate Alumni News

On Finovate

  • Pindrop Security Partners with Bank of the West.
  • InComm Acquires Gift Card Impressions.
  • Trustly Brings New Payment Options to Alpha Fintech’s AlphaHub Platform.

Around the world

  • Algomi hires Scott Eaton, former EMEA COO at MarketAxess, as its new CEO.
  • Envestnet | Yodlee launches AI FinCheck. an AI-powered financial wellness assistant for financial service professionals.
  • FICO and Equifax partner to launch FICO Risk and Affordability Decision Suite powered by Equifax to help banks measure repayment risk.
  • Dashlane integrates with new Apple Security API rolling out in iOS 12.
  • WSJ features Coinbase’s move into Japan.
  • LendKey names Lewis Goldman Chief Marketing Officer.
  • VyStar CU leverages technology from Fiserv to power its mobile banking app.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

Around the web

  • PaySimple announces latest payment integration with Profit Rhino’s selling app for home service companies.
  • The Financial Times ranks Transferwise, Kantox, Zopa Featurespace, Trustly, Kreditech on its FT 1000 list of Europe’s fastest growing companies.
  • Jumio and Insights Network partner to deliver “Passport” for blockchain projects.
  • LendingTree launches Credit Analyzer, a free credit and debt analysis tool.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Nordic Capital Fund Acquires Majority Share of Trustly

Nordic Capital Fund Acquires Majority Share of Trustly

Payment solutions innovator Trustly announced today that Nordic Capital has taken a majority stake in the company. Trustly anticipates this move will assist in its journey to become the leading global online banking payments provider.

Nordic Capital will acquire Sweden-based Trustly from Bridgepoint Development Capital and other shareholders. Additional investors, including Trustly management, founders and investment company Alfvén & Didrikson, will remain significant shareholders in the company. The terms of the deal, which is subject to regulatory approvals, were not disclosed.

In a press release, Trustly CEO Oscar Berglund noted that online banking-based payment solutions are only in “infancy” and that the company seeks to “make it easier, safer and quicker for both consumers and merchants to make payments online.” He added that Nordic Capital’s support will be of great value as Trustly grows. As one of Europe’s largest private equity investors, Nordic Capital has indeed proven to be quite valuable to other fintechs in the space. In fact, the firm helped transform payment platform Bambora into a global payment market leader and also boasts a successful investment in Point, a payment terminal software company.

Fredrik Näslund, Partner and Advisor to Nordic Capital said, “Nordic Capital views Trustly as a highly strategic payment platform with unique capabilities. We intend to support the management team and founders in the journey to becoming the global account-to-account infrastructure player by providing capital and experience from our previous successful investments in payments.”

Adding to the accolades, Johan Dahlfors, Partner at Bridgepoint Development Capital said, “Trustly is very well placed to continue its strong growth trajectory in a structurally growing market with long-term tailwinds for real-time, account-to-account payments.”

At FinovateEurope 2017, Trustly debuted Direct Debit, a payment offering that removes the pain of entering payment card information by allowing users to transact using their current account by entering their bank login credentials.

In a separate release this week, Trustly announced it teamed with Z.com to serve as a payment option. Last fall, the company teamed with Qliro and in May of 2017, Trustly partnered with online fashion retailer Boozt.com, just after announcing its expansion into the U.K.

Finovate Alumni News

On Finovate.com

  • Nordic Capital Fund Acquires Majority Share of Trustly.

Around the web

  • Coinbase granted e-money license by U.K’s Financial Conduct Authority (FCA); joins Faster Payments Scheme courtesy of partnership with Barclays Bank.
  • ACI Worldwide announces contract extension with DBS.
  • Joint Stock Commercial Bank for Foreign Trade for Vietnam (Vietcombank) picks trade finance platform from Finastra.
  • nCino and Enforce partner to accelerate cloud adoption for financial institutions.
  • Tradeshift partners with Canon Business Process Services.
  • Pindrop partners with Aeriandi to detect fraudulent calls through cloud platforms.
  • GMO’s Z.com Trade adds Trustly as payment option.
  • Kabbage teams with New Media to advertise to more than five million small and medium sized businesses (SMBs) that do business in New Media’s markets.
  • OnDeck appoints Kenneth Brause as CFO.
  • Sandia Area Credit Union hires Insuritas to launch member-owned, digitally-powered insurance agency.
  • Oregon Community CU selects Alkami Technology’s digital banking platform to provide its more than 150,000 members with a modern digital banking offering.
  • Bankjoy selected to compete in Google Demo Day in March.
  • TSYS implements new payment solution, Advanced AuthControl, with Walmart and Sam’s Club locations around the U.S.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Fenergo Forges Strategic Partnership with Arachnys.
  • Personetics Powers New Intelligent Financial Assistant Didi from Israel Discount Bank.

Around the web

  • Thomson Reuters introduces investment research marketplace on Eikon to further MiFID II compliance
  • Xero opens new Wellington headquarters.
  • Trustly to expand its Pay N Play gaming payment product.
  • Zopa’s investor community lends 3 billionth pound to U.K. consumers.
  • Pendo Systems targets the insurance sector with Pendo Machine Learning Platform.
  • InComm expands gift card assortment in grocery partners with new brand offerings.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

Around the web

  • ACI Worldwide supports cross-border e-commerce in Brazil with integration of payment processor and gateway, PagBrasil.
  • Revolut is the latest fintech to apply for a European banking license.
  • Fenergo teams up with Opus to improve integration of risk-relevant information in the KYC process.
  • KAMCO Investment Company chooses Fusion Invest from Finastra to accelerate growth.
  • Bluefin Payment Systems unveils PCI P2PE sub-listing option for users of its Decryptions as a Service (DaaS) offering, Decryptx.
  • Ping Identity adds support for companies seeking PSD2, open banking compliance.
  • Trustly tops €10 billion in total payment processing volume since inception.
  • Q2 Holdings named to Deloitte Technology Fast 500 for second consecutive year.
  • Stratumn completes a blockchain experimentation connecting 14 insurance companies in France.
  • nCino debuts in top half of Deloitte’s 2017 Technology Fast 500.
  • Scalable Capital hits €500 million in assets.
  • Checkbook.io disrupts class action payments.
  • Compass Plus assists Almazergienbank to support the issuing and acquiring of JCB cards.
  • NetGuardians and Swisscom launch fraud prevention service.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Kony to Launch Digital Banking Solution Leveraging Daon Biometrics.
  • Roostify to Preview Decision Builder Tool to Ease Loan Application Process.

Around the web

  • NCR introduces its cloud-based mobile payment solution.
  • FICO partners with GVNG to provide non-profits with AML and KYC solutions.
  • Trustly added to Flywire platform as a preferred payment option courtesy of new agreement.
  • nCino scores top spot in Aite Group report on global commercial loan origination.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Trustly Teams Up with Emric to Broaden Payment Options for Businesses

Trustly Teams Up with Emric to Broaden Payment Options for Businesses

Instant payments and real-time authentication checks are coming to business clients of Nordic software provider Emric courtesy of a new partnership with Trustly.

Emric CEO Pedram Tadayon pointed to Trustly’s strong presence in Europe as a key feature of the new relationship with the Swedish payments innovator. “Our ambition is to act as a single platform provider for online banks and financial institutions and with that comes the demand of pre-existing integrations to leading FinTech providers in Europe, where Trustly is one of the strongest players,” Tadayon said.

Trustly’s technology will help Emric clients – financial institutions that develop and manage loans, mortgages, asset finance, and leases – lower the risk of fraud and missed payments, as well as provide end users with easier application and repayment processes. This will enable these FIs to pursue more aggressive growth strategies, a point noted by Trustly CEO Oscar Berglund. “Emric has grown rapidly over the past few years, bringing new payment solutions to more than 60 businesses in 24 countries,” Berglund said. “Our technology enables Emric’s clients to access a new market with millions of potential new customers across Europe.” Emric is a part of Nordic software and services specialist Tieto, which acquired the company last fall.

Founded in 2008 and headquartered in Stockholm, Sweden, Trustly demonstrated its Direct Debit solution at FinovateEurope 2017. The company provides cross-border payments between bank accounts at more than 3,000 banks in 29 markets in Europe, and connects businesses and consumers in verticals including financial services, e-commerce, and travel. In August, Trustly partnered with ecommerce payment provider Qliro, becoming a permanent online banking option for Qliro’s Qliro One. In May, the company announced a deal with Nordic online fashion retailer, Boozt.com.

Trustly has been recognized as one of Europe’s fastest-growing companies by both the London Stock Exchange and The Financial Times. The company has raised more than $27 million (€23 million) in total funding and includes BDC Venture Capital and Bridgepoint among its investors.

Finovate Alumni News

On Finovate.com

  • Ayondo Pursues IPO After Reverse Takeover Deal Lapses.
  • Personal Capital Launches Education Planner to Prepare You for College Costs.
  • Finastra Partners with VASCO to Offer Customers eSignLive Capability.
  • Trustly Teams Up with Emric to Broaden Payment Options for Businesses.

Around the web

  • Cuffelinks features Jon Medved, CEO and Founder of OurCrowd.
  • Openbank, the digital bank of Santander Group, selects Temenos Core Banking.
  • Interxion working with global institutional agency-model broker INSTINET to host the firm’s BlockMatch.
  • Arroweye Solutions selected by Obsidian to produce custom local open-loop prepaid cards.
  • SecureKey Technologies adds National Bank of Canada to its digital identity network.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.