Trustly CEO Delays IPO by at Least One Year Amid Strong Profit Growth

Thursday, 30 May 2024, 07:59
Johan Tjarnberg, the CEO of Trustly, reveals the company's decision to postpone its IPO for about a year despite a remarkable 51% increase in profits. The reason cited is the need to further demonstrate the value of their open banking technology to potential investors. This move showcases a strategic approach aimed at ensuring a successful public offering in the future.
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Trustly CEO Delays IPO by at Least One Year Amid Strong Profit Growth

Trustly CEO Delays IPO

Johan Tjarnberg, CEO of Trustly, disclosed that the company plans to defer its IPO by at least one year, highlighting the need for increased investor confidence. The decision was made to further solidify the company's open banking technology offerings before going public.

Profit Surge and Strategic Delay

The fintech firm experienced a substantial 51% rise in profits, showcasing its financial strength. Despite this success, Trustly aims to secure a more favorable market response and valuation by delaying its IPO to establish a stronger market position.

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