Swedish fintech Trustly to cut around 200 jobs

Trustly is cutting around 200 roles, roughly a quarter of a headcount of more than 800, to shorten decision chains and concentrate investment on open banking. The cuts fall disproportionately on its Brazilian teams. Trustly's net loss widened to SEK 534 million in 2025 from SEK 401 million, after a revenue shortfall caused by the loss of two large unnamed clients, both of which later returned.

Trustly is one of the largest independent pay-by-bank providers in Europe and a reference point for whether A2A acceptance can carry a standalone business at card-scale cost. A quarter of the staff going while the loss widens says the answer is not yet, and it happens exactly as the bank-owned schemes, Wero and Bizum among them, push the same rail with no customer-acquisition cost.

BlackRock-backed and more than USD 400m raised makes this a signal about the whole independent A2A segment, not one company.

Whether the cuts spare Trustly's European merchant coverage, whether 2026 accounts show the loss narrowing, and whether the retrenchment leaves room for bank-owned A2A schemes at European checkouts.

• tech.eu
• Crowdfund Insider