(Bloomberg) -- Nordic Capital is exploring options for Swedish digital payments company Trustly Group AB including a potential sale or initial public offering, people familiar with the matter said.
The private equity firm has held initial discussions about the divestment strategy for Trustly, which could be worth about $10 billion in any deal, according to the people. Nordic Capital would likely seek to list the company in the US if it decides to pursue an IPO, they said.
Considerations are preliminary and a transaction is unlikely to take place before next year, the people said, asking not to be identified as the information is private. Nordic Capital could decide to keep the asset for longer, they said. Representatives for Nordic Capital and Trustly declined to comment.
Stockholm-based Trustly runs a global open banking payments network that serves 8,300 merchants, connecting them with 650 million consumers and 12,000 banks in more than 33 countries, its website shows. It processes over $42 billion in annualized transaction volume on its network.
Nordic Capital acquired Trustly from Bridgepoint in 2018 for an undisclosed amount. BlackRock Inc., Neuberger Berman and Investment Corp. of Dubai became minority shareholders two years later. In 2021, Trustly planned to raise almost $1 billion through an IPO in Stockholm and also considered a second listing in New York.
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