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Trustly completes €70m acquisition of French fintech SlimPay

France’s banking regulator has greenlit the deal, which will see an exit for key shareholders Prime Ventures and Maine Capital

Johan Tjärnberg / Trustly

Johan Tjärnberg / Trustly

Swedish fintech Trustly has closed its €70m acquisition of Paris-based account-to-account payment provider SlimPay, having received approval from the French banking regulator ACPR.

The deal was first announced in August 2023 and saw an exit for SlimPay’s key shareholders Prime Ventures and Maine Capital.

“SlimPay's unique product capabilities, fused with Trustly's innovative technology, are a game-changer for recurring payments in Europe,” Johan Tjärnberg, group CEO of Trustly said.

“Our alliance synergizes Trustly's expansive reach and SlimPay's specialized expertise, creating a comprehensive, pan-European offering that already has attracted top-tier global brands.”

The deal aims to bolster the two companies' recurring payments propositions and expand their combined customer base into new verticals and geographies.

Trustly has been on an acquisition spree of late, having also snapped up UK fintech Ecospend in 2022 — a key provider of open banking services to HMRC.

In 2021 Trustly shelved plans to go public — in what had been set to be one of the biggest European fintech IPOs — after regulators raised concerns around its due diligence.

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