Swedish fintech Trustly to cut around 200 jobs

Swedish fintech Trustly is cutting around 200 jobs, around a quarter of its overall headcount, as it looks to streamline its operations and focus on key areas of the business, it said. Trustly, which is backed by BlackRock and has raised over $400m in funding, leverages open banking technology to allow its customers to pay directly from their bank account without needing to use a card or app. It is an alternative payment method to card giants Visa and MasterCard.