Ikea invests USD 22.5 mln in Jifiti

Wednesday 1 September 2021 10:52 CET | News

Ingka Investments, an owner and operator of 389 IKEA stores, has invested USD 22.5 million in Jifiti, a developer of consumer financing solutions for bank lenders and merchants.

Jifiti’s platform enables banks, lenders, and merchants to deploy BNPL (Buy Now, Pay Later) programs at any merchant’s point-of-sale, online, and in-store. Its solution works with any existing point-of-sale or ecommerce system, eliminating the integration process between lenders and the merchant’s systems.

The investment is the latest in a series of investments made by Ingka Group that will strengthen its core IKEA retail business by investing in companies in areas such as digitalisation, customer fulfilment, fintech, and sustainability that support its ongoing transformation to become more affordable, accessible, and sustainable.

Ingka Group and Jifiti will collaborate to develop and extend IKEA Retail’s financial services to its 706 million annual in-store customers and 3.6 billion ecommerce visitors worldwide.

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Keywords: investment, fintech, banks, BNPL, digitalisation, retail
Categories: Payments & Commerce
Countries: World
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