Financial success recorded by Trustly in the year 2024, attributed largely to expansion in Europe and North America.
Trustly, a leading provider of secure, digital, and instant payment solutions, has demonstrated significant growth and robust performance in both the European and North American digital payments markets, as evidenced by its 2024 financial results.
## Financial Growth and Market Penetration
The total payment value (TPV) processed by Trustly reached an impressive $87 billion in 2024, marking a 54% year-on-year increase. Net revenue grew by 32% to $239 million, and the adjusted EBITDA increased by 50% to $73.2 million, reflecting strong operational efficiency.
In Europe, growth was driven by rising transaction volumes, continued innovation, and an expanding merchant base across various sectors. In North America, growth was supported by advanced risk management technology, which reduces fraud and non-sufficient funds risks. Trustly processed over $17 billion through the Real-Time Payments (RTP) network and expanded partnerships with Cross River Bank to include FedNow.
## Notable Partnerships and Innovations
Key collaborations in North America include integrations with BNY’s Bankify, Newline by Fifth Third, Coinbase, IGT, and Light and Wonder. In Europe, new clients added in 2024 include Lenovo, foodora, and ITV. Trustly also launched a new partnership with Bonprix (part of the Otto Group), implementing its Account-to-Account (A2A) payment solution in Finland, Sweden, and Norway for a smoother customer experience.
In Sweden, Trustly became the first payment provider to support RIX INST, the instant settlement system of Sveriges Riksbank (the Swedish Central Bank), further cementing its position in instant payouts. Trustly also partnered with The Swedish Postcode Lottery to enhance secure and fast payment processing for lottery participants.
## Collections and Customer Experience
Trustly improved its collections performance by 92% across all placement periods, with continuous gains throughout 2023 and 2024, including strong results during traditionally tough holiday periods. 87% of Trustly’s U.S. customers use digital self-service channels for payments and issue resolution, reflecting a strong preference for flexible, digital-first solutions. Trustly utilised machine learning-driven personalization and omnichannel support (voice, email, SMS, live chat) to maintain high customer satisfaction and efficient collections.
In summary, Trustly's current status is one of robust growth and leadership in secure, digital, and instant payment solutions, underpinned by strategic partnerships and technological innovation in both Europe and North America. Trustly remains a privately held company, backed by Nordic Capital since 2018, alongside BlackRock, Alfvén & Didrikson, and Neuberger Berman.
[1] Trustly Press Release, "Trustly Reports 2024 Annual Results", [URL] [2] Trustly Press Release, "Trustly Expands Partnership with Cross River Bank", [URL] [3] Trustly Press Release, "Trustly Announces AI-Powered Recurring Payments Solution", [URL]
- On ffnews.com, it was reported that Trustly, a leading provider of digital and instant payment solutions, displayed remarkable improvement in both Europe and North America, with a 54% year-on-year increase in total payment value to $87 billion in 2024.
- In the realm of finance and business technology, Trustly's partnership with The Swedish Postcode Lottery is noteworthy, as it aims to assure secure and swift payment processing for lottery participants, further highlighting the company's expertise.
