Sweden based payments fintech Trustly has raised a fresh round of capital led by BlackRock which puts the value of the company at or above $1bn; the exact amount of the money raised was not disclosed but additional investors included Aberdeen Standard Investments, funds managed by Neuberger Berman, the Investment Corporation of Dubai and RSIC; Trustly’s platform makes it as easy for merchants to accept bank transfers as it is to take card payments to complete online transactions; the company has partnerships with more than 6,000 merchants including Facebook, AT&T, Alibaba, PayPal and TransferWise; “I think that bank transfers plays into the younger generation of millennials who just consciously don’t want to get into the debt trap, while also being used to everything being done in real time,” Trustly’s CEO Oscar Berglund said to TechCrunch. TechCrunch
