Sweden-based payment start-up Trustly has secured new investment from several investors to support its investment in infrastructure and global expansion.

In the latest funding round, BlackRock Private Equity Partners and a group of institutional investors became minority shareholders in Trustly.

The company did not divulge financial details of the investment. However, Nordic Capital , which acquired Trustly in 2018, will continue to remain the majority shareholder.

Nordic Capital Advisors partner Fredrik Näslund said: “It is a testament to Trustly’s amazing success that Nordic Capital is able to attract such a consortium of world-class investors.

“Nordic Capital welcomes our new partners as co-investors and looks forward to continuing a successful journey with Trustly.”

Established in 2008, Trustly provides account to account payment service. The service allows customers to direct payments to merchants from their online banking accounts.

According to its website, the payments start-up processes more than nine million payments monthly.

It has around 400 employees across Europe, the US and Latin America.

Trustly CEO Oscar Berglund said: “At Trustly, we’re leveraging local bank-to-bank payment rails to build a global online banking payments network that enables people to pay directly from their bank accounts in a safe and convenient manner.

“We welcome BlackRock and the other investors as minority shareholders in Trustly. With their support, we will double-down on developing the online banking payments solution that our merchants and billers and their customers love.”