Swedish paytech Trustly has acquired French account-to-account payment fintech SlimPay for €70 million, aiming to enhance recurring payments and expand their reach in Europe and the UK.
Facts
- Trustly acquires SlimPay for €70 million to improve recurring payments.
- Trustly leverages open banking to connect brands with consumers and facilitate payments, serving over 8,300 merchants across 30+ markets.
- Trustly operates under regulatory supervision in Europe, the US, and the UK.
- SlimPay, founded in 2010, offers recurring payment solutions through SEPA direct debit and open banking, serving 2,000 merchants in 20+ countries.
- The acquisition aims to enable “error-free” payment registration, enhance conversion rates, and provide flexibility for consumers.
- Trustly aims to offer a pan-European recurring payments service and improve payments in SEPA regions, including Germany, France, Spain, and Italy.
- Trustly’s goal is to provide a comprehensive, embedded digital payment experience.
- Trustly launched Trustly Azura, a data engine for personalized and optimized payment experiences.
