Fyndiq is Sweden’s hottest marketplace

Sweden, the country known for its global brands like Volvo, SAAB and IKEA, is quickly becoming one of the fastest growing ecommerce hubs in Europe with a 25.9% share of the regional ecommerce market. One of the startups fuelling the ecommerce growth in the country is popular online marketplace Fyndiq, dubbed as Sweden’s “Amazon for bargain products”. The secret behind Fyndiq’s success is its free-to-list platform where ecommerce retailers can sell their inventory that’s not moving and Fyndiq will take a 5% fee for every transaction. The benefit to the retailers is they don’t have to heavily discount their products on Fyndiq. With such a simple business model, it’s no wonder that Fyndiq now has over 500,000 unique vendors signed up and more than 200,000 products listed. Last week, the company received a massive $20m Series A funding.

You can read about the funding here.

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