March 14, 2018 / 3:41 PM / 10 months ago

UPDATE 1-Nordic Capital buys online banking payments provider Trustly

(Adds details, background)

March 14 (Reuters) - Private equity firm Nordic Capital said on Wednesday it would buy online banking payments provider Trustly, and said the investment was at the core of its payment investment strategy.

* Says sees significant potential in supporting management to accelerate Trustly’s growth agenda in current and new geographies, as well as expand the product portfolio

* Says parties have agreed to not disclose any financial details

* Says largest shareholder Bridgepoint Development Capital will dispose of its full equity interest in Trustly but management, founders and investment company Alfvén & Didrikson will remain significant shareholders in the company

* In 2017, Nordic Capital sold Swedish payment platform Bambora to French payments specialist Ingenico for 1.5 billion euros after three years of ownership

* Nordic Capital partner Fredrik Naslund says investment “is at the core of Nordic Capital’s payment investment strategy”

* “We intend to support the management team and founders in the journey to become the leading global online banking payment champion, by providing capital and experience from previous successful investments in payments,” Naslund says in statement

* Says Citi acted as exclusive financial adviser to the shareholders of Trustly

* Says Trustly, which is present in 29 European countries with connections to more than 3,000 banks, processes more than 3.5 million payments with monthly payment volumes of around 6 billion crowns ($732.2 million) Source text for Eikon: ($1 = 8.1940 Swedish crowns) (Reporting by Helena Soderpalm, editing by Johan Sennero)

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