Born in the innovative ecosystem of Stockholm, Sweden, Fyndiq has grown to become the country’s go-to online platform for bargain hunters. Launched in August 2010, Fyndiq was the brainchild of a team dedicated to creating a sales channel that would boost e-tailers’ sales in an accessible way. Since its inception, Fyndiq has not only achieved its primary goal, but it has also fostered a thriving online marketplace that connects sellers and shoppers.
Revolutionizing Retail: Fyndiq’s Unique Market Position
The key to Fyndiq’s success lies in its unique model: an e-commerce platform that allows individual retailers to effectively sell their overstock. This approach has turned Fyndiq into a one-stop shop for bargain products online, making it the preferred choice for both retailers and consumers.
The numbers speak for themselves: Fyndiq offers more than 220,000 products from over 1,100 merchants across Sweden. Its exponential growth has been evidenced by its sales figures, jumping from 56 million SEK in 2012 to nearly 124 million SEK in 2013.
International Aspirations and Investments
In November 2014, Fyndiq received a significant vote of confidence in the form of a $20M funding round led by Northzone, an early investor in Spotify, and Industrifonden, a VC backed by the Swedish government. This funding has set the stage for Fyndiq to take their platform international, paving the way for their unique business model to disrupt e-commerce markets beyond Sweden.
The heart of Fyndiq’s success, however, remains its dedicated and motivated team. Currently composed of 75 individuals, the team’s passion and commitment play an integral part in making Fyndiq the success story that it is today.
Looking to the Future
Fyndiq stands as an exemplary model of European entrepreneurship, leveraging innovative thinking to disrupt traditional retail and e-commerce practices. With its commitment to providing value to both retailers and consumers, Fyndiq is set to continue its trajectory of growth, ready to expand beyond the Swedish market and introduce bargain hunting at its best to a global audience.
Fyndiq is more than a platform; it is a testament to the power of innovative thinking, committed teams, and the drive to provide value for customers.
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