Have you heard of Trustly? If the answer is no, you are likely to hear about them very soon. They are a growing company in Sweden that is going to have an initial public offering in the second quarter of 2021. In particular, they are involved with a lot of online casinos and they are making the gambling process a lot easier and more exciting for players.
What is an Initial Public Offering?
First of all, an initial public offering is when a company wants to sell a portion of that business to public investors. In other words, the owners offer a share of their private business. You can also hear this process described as ‘going public’. Indeed, just as the name suggests, an initial public offering is the first time that the company is offering shares of stocks.
The purpose of an initial public offering is very simple. It allows capital to be raised for that business. This is a great thing since the funds can go directly to the company and it allows the business to expand and grow. It can also be used for other commitments such as debts. Let’s take a look a Trustly’s Initial Public Offering and learn more about the company.
Who are Trustly?
With improved technology and increasing reliance and demand for mobile and quick solutions, there has been an acceleration in digital transactions, with more customers making online payments than ever before. This is something that Trustly has benefited from. This company was formed in 2008 and they are based in Sweden.
A technology system that has become popular was created in 2015 by Trustly. We are talking about Pay N Play. Trustly created this system so that online casinos could benefit. Namely, they wanted to make registration and deposits a lot easier for players. They act as the middleman, extracting important information from the player’s bank account, which allows them to skip the time-consuming registration process. What’s more, withdrawals are also easy for the player thanks to Trustly.
It is not only players that benefit from Trustly. Operators are also going to be happy with the service they deliver. In particular, operators have already experienced boosted conversion and retention of players. Due to the way that the technology works, it is impossible for a player to register but not deposit money. Studies have also shown that allowing instant withdrawals can make people trust your online casino and it can help to build loyalty. Again, this is going to keep players playing at the casino.
It is thought that the initial public offering for Trustly will go ahead in Stockholm this year. The company was acquired by Nordic Capital in 2018 and they are in talks with J.P. Morgan, Goldman Sachs and Carnegie to go ahead with the initial public offering. The company is believed to be valued at around $11 billion and this process could go ahead between March and April 2021.