Online Marketplace Fyndiq Receives New Investments to Become Sweden’s Amazon for Bargain Deals

Stockholm: Fyndiq is one of Sweden’s fastest growing online marketplaces, with over satisfied 500,000 customers to date. The platform is mainly oriented towards electronics and other household products that buyers can purchase for the best prices.

Fyndiq works by bringing together sellers who want to move their inventories faster and buyers on the lookout for better deals. Sellers list their items on Fyndiq, where buyers can find them with ease, and Fyndiq gets 5% of every transaction taking place on their platform. The whole selling and delivery process is handled by the seller. Otherwise, there are no other obligations for sellers, which makes the platform quite popular with electronics and household products dealers.

What kind of products can customers purchase from Fyndiq? The main categories include Mobile & Tablets, Health & Beauty, Sports & Entertainment, Fashion, Gifts and many others.

So far, the platform has been very successful with Swedish buyers and the management is looking for ways to expand.

Fyndiq’s popularity has not gone unnoticed and the online marketplace is going to receive over 16 million Euros in new investments from names like Northzone and Industrifonden. While the amount may sound impressive for an online platform, a little while ago Fyndiq also managed to raise 4 million Euros from private investors.

The main purpose of Fyndiq is to provide customers with the best deals they can find. Along these lines, Fyndiq’s representatives declared that they intend to expand beyond Sweden’s border and establish their marketplace as an European Amazon for bargain deals that customers cannot find someplace else.