Nordic marketplace Fyndiq gets Storfund cashflow solution

Nordic marketplace Fyndiq gets Storfund cashflow solution

Fyndiq is the number one marketplace for bargain hunters in Sweden and has expanded across the Nordic region. Now, Storfund’s new partnership with Fyndiq will embed its cashflow service within the marketplace, improving cashflow for sellers.

The last few years have also seen the rise of local marketplaces which cater for the tastes of a particular country or specialist category. Nordic marketplace, Fyndiq, is a prime example. It started out as a place where shoppers could find end-of-season items which would previously have been junked by retailers, and grew into Sweden’s “home for bargains”. Founded in 2010, Fyndiq is now one of Sweden’s most popular shopping sites and has recently expanded to Norway, Denmark and Finland.

After the UK, Sweden has the highest per capita spend on online retail of any European country and, at 70%, one of the highest rates of usage.

Improving cashflow is win-win for sellers and marketplaces. Fyndiq grew by 60% in 2019-2020. By providing our sellers with cash to restock immediately, Storfund ensures we keep pace with demand, and our customers can always find new products at a great price.

– Fredrik Norberg, CEO, Fyndiq

Storfund started out as an Amazon service provider. However,they quickly realised sellers needed their service to span the global ecosystem. Now it partners with top-tier local marketplaces such as Cdiscount in France and PcComponentes in Spain as well as category specialists such as Back Market, the world’s largest marketplace for refurbished mobile phones… and now Fyndiq.

A global service is key for ecommerce, both sellers and consumers think globally, so we have to do the same. Our proprietary technology has been a key factor in our growth, it means we can switch on a new marketplace within a few weeks.

– Margaret-Anne Galvin, Head of Partnerships, Storfund
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