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Sweden's Trustly reports 42% annual revenue growth ahead of planned IPO

STOCKHOLM, March 16 (Reuters) - Swedish payments firm Trustly on Tuesday reported a 42% growth in revenue in 2020, helped by a surge in digital transactions during the coronavirus pandemic.

The company is planning a second-quarter flotation that could value it at up to 9 billion euros ($11 billion), people close to the matter had earlier told Reuters.

Net revenue for the year rose here to 1.97 billion Swedish krona ($231.85 million) while processed transaction volume rose 43% to 190.1 billion krona.

Founded in 2008 and majority owned by Nordic Capital, Trustly counts PayPal, TransferWise and Facebook among its customers. ($1 = 8.5141 Swedish crowns) (Reporting by Supantha Mukherjee in Stockholm; editing by Colm Fulton)

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