Trustly lands binding equity commitments of more than 40 million dollars from Nordic Capital weeks after cutting a quarter of its staff

On 2 October 2026 Trustly said it had received signed equity commitment letters for more than 40 million dollars from its principal shareholder Nordic Capital and from Alfvén & Didrikson. The company describes the letters as irrevocable and legally binding, and says they will fund a capital raise it expects to close in November 2026.

Trustly's other existing shareholders will be offered the chance to participate and the final amount will be announced on completion. The stated use is to accelerate an AI-led growth strategy and the products built on it. The commitments come weeks after Trustly said it would cut around 200 roles, about a quarter of its workforce, which the corpus already carries from 17 September 2026.

Nordic Capital putting fresh equity behind Trustly weeks after a quarter of the workforce left answers the question the job cuts raised: whether Europe's largest independent pay-by-bank operator is being run down for a sale or funded for another build. Binding commitment letters rather than a term sheet mean the raise is covered before it opens, and the stated use is product rather than runway.

It also lands in the same fortnight as TrueLayer's 27 million dollar round and Brite's FCA e-money licence, so the account-to-account segment is recapitalising across the board rather than consolidating onto one survivor, and the differentiator each of them names is the same one.

The final amount when the raise closes in November, whether minority shareholders take up their allocation or let Nordic Capital's stake rise, and what Trustly actually ships from the AI programme the money is earmarked for.

• mfn.se
• tech.eu, 2 Oct 2026