FRANCE – Trustly, a Stockholm, Sweden-based global payment company, acquired SlimPay, a Paris, France-based leader in recurring payments.
The transaction is subject to customary regulatory approvals. The parties have agreed to not disclose any financial details. Anyways, according to Bloomberg, the deal amounted to approx. €70m. Founded in 2010 and led by Jerome Traisnel, CEO, SlimPay is a leader in recurring payments, offering digital payment solutions through innovative technologies to merchants and consumers across utility, financial services, and retail sectors. SlimPay is an authorised payment institution under ACPR supervision. The product synergy will create a payment process for consumers leveraging Trustly’s Account-to-Account (A2A) technology and SlimPay SEPA direct-debit capabilities. The combination will add to Trustly’s existing modern Direct Debit capability in the UK and Sweden and provide a comprehensive pan-European recurring payments service. Trustly and SlimPay will together improve the payments process for merchants and consumers in the Single Euro Payments Area (SEPA), including Germany, France, Spain and Italy.The acquisition of SlimPay comes shortly after the launch of Trustly Azura, a new technology and data engine that will improve the payments experience for merchants and consumers through personalisation and data optimisation. By adding SlimPay’s recurring payments and its data interface to its offering, Trustly expects to further accelerate the roll-out of Azura. Led by Johan Tjärnberg, Group CEO, Trustly is a global payment method that links top brands with millions of consumers who instantly transfer, pay, and get refunded in a secure and convenient way. The company handles the entire payment journey at scale, transforming the performance and experience of payments for over 8,000 merchants in 30+ markets, connecting them to 525 million consumers through 6,300 banks. It is a licensed Payment Institution under the second payment services directive (PSD2). The company operates under the supervision of the Swedish Financial Supervisory Authority in Europe. 30/08/2023
