Swedish e-commerce platform Fyndiq promotes Nordic market layout and expands local influence

August 23 16:46 2022

According to public information, Fyndiq was established in August 2009 and is headquartered in Stockholm. After a year of precipitation, it launched its e-commerce platform in August 2010, named Fyndiq. Its pre-positioning was an e-commerce platform. Offers a range of products for bargain-hungry shoppers. At the same time, provide a sales channel for all types of e-retailers and want to increase their sales in an accessible way. With Fyndiq, individual retailers can fully sell their overstocked inventory, while consumers can shop for cheap products in one stop. In recent years, Fyndiq’s positioning is gradually approaching a one-stop e-commerce comprehensive service platform.

A few days ago, the Swedish e-commerce platform Fyndiq announced that it is conducting a new round of financing of 20 million yuan, which will be mainly used for the expansion of new markets, infrastructure construction and optimization of service systems.

It is reported that this is the second financing that Fyndiq has completed since the establishment of the company. In November 2014, Fyndiq completed the first round of financing of many well-known capital investments, which played a positive role in the promotion of Fyndiq in the initial market by Sweden.

At the same time, Fyndiq has also independently developed an ERP system to assist platform merchants in digital management. At present, Fyndiq provides more than 220,000 kinds of products to consumers of more than 1,100 merchants in Sweden. In recent years, the company is expanding into Denmark, Norway, Finland and Iceland, etc. At the same time, Fyndiq is also the official cooperative service provider of several cross-border e-commerce platforms.

The start-up team of the Fyndiq team has about 80 people. The core team is the founding employees of Amazon Germany and AliExpress. Before the company was founded, it has many years of experience in film operations. The management is very familiar with localized operations. Business industry dynamics have a keen sense of smell.

The overall size of Sweden’s e-commerce market will reach $10.9 billion in 2020. According to relevant data, the Swedish e-commerce market is expected to grow at an annual growth rate of 4.2% and will reach a scale of $12.9 billion in 2024. That’s a lot of confidence for Fyndiq alone, which had sales of SEK 56 million in 2012, a figure that doubled to nearly SEK 124 million in 2013.

At the infrastructure level: Considering the infrastructure requirements of the development of e-commerce, the efficiency and cost of warehousing and logistics are also a great challenge to Fyndiq. For this reason, the Fyndiq operation team will consider building its own warehouse distribution system in the future to strengthen its underlying services.

Ability:

In terms of platform: At present, Fyndiq’s resident merchants are mainly individual retailers. In the next stage, Fyndiq will introduce a large number of international well-known brands to settle in, which will provide more choices for more sellers.

In terms of market: the market layout of Fyndiq will not only depend on the Swedish headquarters, but the market blueprint will extend to the whole of Northern Europe.

In terms of operation: Fyndiq will invest in full traffic on the entire network to expand its influence in the country; at the same time, Fyndiq will become a specialized department of the online platform to provide courses and incubation services for settled merchants, helping sellers to improve and select products All services such as products and technical support.

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Company Name: Fyndiq
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Country: United States
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