Swedish open banking pioneer Trustly has announced plans to cut approximately 200 positions, impacting roughly one-fourth of its total workforce.
The restructuring aims to streamline operations and concentrate investments on core growth areas within the competitive digital payments market.
These workforce reductions highlight ongoing adjustments affecting employment across many major fintech companies globally.
Swedish fintech Trustly cutting jobs and restructuring
Streamlining open banking operations and global footprint
Headquartered in Stockholm with international offices spanning London, Helsinki, and San Carlos, Trustly leverages account-to-account technology as an alternative to traditional card networks.
While serving thousands of global merchants—including giants like PayPal, Alibaba, and Wise—the company experienced previous revenue fluctuations following temporary client losses.
The latest cuts will predominantly affect teams based in Brazil as leadership realigns its strategic priorities.
European fintech industry job losses and employment trends
Balancing financial backing with strategic refocus
Despite raising over $400 million in funding from prominent backers like BlackRock and Nordic Capital, the firm is tightening its operational focus to maintain its market position.
Affected professionals navigating these transitions often seek collaborative environments or remote setups, frequently connecting from modern flexible coworking spaces while exploring new career opportunities.
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