Trustly, a Swedish fintech firm backed by BlackRock Inc. (NYSE:BLK) has reported a 51% increase in operating profit for 2023. Despite this, CEO Johan Tjarnberg stated that an IPO is at least two years away.
What Happened: Trustly’s revenue for 2023 reached $265 million, with significant growth in the second half of the year. Transaction volumes spiked 48% during this period. Tjarnberg attributed much of this growth to the company’s U.S. operations, which expanded significantly after merging with PayWithMyBank in 2020.
However, the CEO emphasized the need for more time to demonstrate the value of Trustly’s open banking technology to investors, CNBC reported on Thursday.
“We need …
Full story available on Benzinga.com
Trustly, a Swedish fintech firm backed by BlackRock Inc. (NYSE:BLK) has reported a 51% increase in operating profit for 2023. Despite this, CEO Johan Tjarnberg stated that an IPO is at least two years away.
What Happened: Trustly’s revenue for 2023 reached $265 million, with significant growth in the second half of the year. Transaction volumes spiked 48% during this period. Tjarnberg attributed much of this growth to the company’s U.S. operations, which expanded significantly after merging with PayWithMyBank in 2020.
However, the CEO emphasized the need for more time to demonstrate the value of Trustly’s open banking technology to investors, CNBC reported on Thursday.
“We need …
Full story available on Benzinga.com
Trustly, a Swedish fintech firm backed by BlackRock Inc. (NYSE:BLK) has reported a 51% increase in operating profit for 2023. Despite this, CEO Johan Tjarnberg stated that an IPO is at least two years away.
What Happened: Trustly’s revenue for 2023 reached $265 million, with significant growth in the second half of the year. Transaction volumes spiked 48% during this period. Tjarnberg attributed much of this growth to the company’s U.S. operations, which expanded significantly after merging with PayWithMyBank in 2020.
However, the CEO emphasized the need for more time to demonstrate the value of Trustly’s open banking technology to investors, CNBC reported on Thursday.
“We need …Full story available on Benzinga.com Read MoreBlackrock, BLK, Fintech, initial public offering, News, Pooja Rajkumari, startup, Stories That Matter, Sweden, IPOs, Startups, Markets, General, BLK, US09247X1019, News, Fintech, IPOs, Startups, Markets, General, Benzinga IPOs
