Qliro expands partnership with CDON - becomes new payment partner for Fyndiq
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Finans |
| Industri | Övriga finansiella tjänster |
Qliro has today entered into an expanded partnership with CDON AB ("CDON") by signing an agreement with CDON's wholly owned subsidiary Fyndiq AB ('Fyndiq'), whose total annual payment volume is estimated to exceed 600 MSEK. The expanded partnership also includes an extended agreement with Qliro as CDON's payment partner, which already represents a significant part of Qliro's total payment volume and operating income. The new agreements are in line with the company's strategy to grow within Payment Solutions.
‘’We are proud to extend our relationship with CDON and welcome Fyndiq to the Qliro platform. The renewed - and extended - trust of the Nordic region's leading digital marketplace is a confirmation of our strategic investment in Payment Solutions with an increased focus on merchants and their customer journey,'’ says Christoffer Rutgersson, CEO of Qliro.
The new agreement with Fyndiq is for Qliro Checkout to process volumes within Pay Later and Pay Now. The additional payment volume from the agreement with Fyndiq is estimated to amount to just over SEK 600 million per year (referred to as Gross Merchandise Value (“GMV”) in CDON's financial reporting) and will be processed within Qliro's new payment service Unified Payments. Fyndiq is expected to go live on Qliro's platform during the second quarter of 2025.
In addition to the new agreement with Fyndiq, Qliro and CDON have extended their agreement regarding Qliro Checkout for the CDON marketplace. This means that Qliro will continue to deliver leading payment services to CDON and its customers. The expanded cooperation will also focus on developing new innovative solutions to improve the customer experience and conversion and is expected to strengthen both companies' positions in the Nordic market.
"We are very pleased with the decision to extend and expand our relationship with Qliro. Our shared heritage and long history of developing flexible solutions together provide a solid foundation for continued successful collaboration in the years to come. Qliro's transformation and the development of leading technical solutions that contribute to increased conversion, upsell and improved customer experience have been crucial in the decision. The fact that Qliro today is a very forward-thinking and e-commerce-focused organisation is a big plus. As someone who has been in the industry for a while, I'm reminded of how a similar company took the Nordic region by storm just over fifteen years ago", says Fredrik Norberg, CEO, CDON.
Qliro was founded in 2014 under the slogan '’by e-merchants, for e-merchants'' by the former e-commerce group CDON Group, with the aim of creating the best payment solution on the market for, among others, CDON, which was one of the group's subsidiaries at the time. After the split of the former group (that was completed in 2020), CDON has continued to account for a large share of Qliro's total sales. Although this share has decreased as Qliro has entered into agreements with new merchants, CDON still accounts for a significant part of the company's sales volume and operating income.