Trustly, a FinTech offering payments and account-to-account transactions, has acquired Ecospend.
In Brief:
Ecospend is a key competitor for Trustly in the UK.
It currently works with a range of customers including public sector clients like HMRC.
Trustly aims to be an open banking leader and currently serves 81,000 merchants across 30 countries.
What does this mean?
Trustly, which already has a strong presence across the European Union, is aiming to expand into the UK market through the Ecospend acquisition. Trustly will benefit from Ecospend’s existing relationships with large customers in both the private and public sectors.
