Stockholm, Sweden, June 28, 2023 - Trustly, the global payment method, consolidates its 2022 financial results, demonstrating good progress in line with the re-focused strategy including strong underlying growth in particular related to the US business, and significant investments in building the new Trustly, including in the technological leadership through Trustly Azura, the new payment standard.
- Reported revenues of SEK 2.350 million - underlying year over year (YoY) revenue growth of 19%1
- Hypergrowth in the US – 50% YoY growth – US now more than 50% of revenues in the Group
- Growth investment related to US growth and Trustly Azura of approx. 200 MSEK
- Adjusted EBITDA of SEK 340 million
Following the introduction of a refocused strategy in early 2022, Trustly’s focus over the last year has been on delivering in line with the strategy including focusing on delivering an exceptional payments experience, growing its European geographical footprint in selected core markets and discontinuing non-core activities in Europe2. Another focus for Trustly has been the continued execution on the adoption of the SFSA risk and compliance requirements, including updating its product and further strengthening its risk management and compliance routines.
The company has also made extensive investments in developing its technology, launching Trustly Azura – the new payment standard. In the US, Trustly has completed continued investment in growth including adding another 150 employees in the US during 2022. With expected continued high growth for many years to come.
Johan Tjärnberg, CEO of Trustly, comments: “I am pleased with Trustly’s overall performance and financial results in 2022. We have continued to execute on our refocused growth strategy, focusing on growing our geographical footprint in selected core markets and delivering an exceptional payments experience. This has set us up with a strong foundation, enabling us to drive the new standard in payments globally.”
1 Adjusted for discontinued business
2 Corresponding to approximately 700 million SEK in revenue