The boss of Swedish financial technology startup Trustly says an initial public offering for the company is still a year or two away from happening, even after a 51% jump in operating profit.
"We need another year or two to really demonstrate to the market that open banking is happening happening, it's here," Tjarnberg told CNBC.
Trustly is holding out on an IPO even after reporting a strong set of financials.
Growth accelerated significantly in the second half of the year, Trustly said, climbing 27% compared with the same period in 2022.
Tjarnberg told CNBC that the company's performance in 2023 was heavily driven by the growth at its U.S. business.
Persons:
Johan Tjarnberg, Tjarnberg, Trustly, PayWithMyBank
Organizations:
CNBC, Trustly