“We are well positioned to grasp the e-commerce growth in Finland”

TF Bank’s e-commerce solutions segment continues its successful development in the Nordic region and the Baltics. This year alone, several top tier customers have been added or extended their solutions, including strong brands such as Bubbleroom, Masku, Hansapost and Däck365. Finland is one of the markets that has exhibited the strongest growth. Olli Ruokamo, Managing Director of Avarda Finland, tells more about the success factors.

“The past two years have marked a breakthrough for Avarda and TF Bank’s ecommerce solutions. We at Avarda are leveraging from TF Bank’s long history and knowledge in sales finance and combining it with Avarda’s innovation, agility and top-notch technology.  This is very unique for the market as we are providing services which are fully focused to serve needs of retailers. From the very start, it has been clear that we are filling a gap in the fintech market.”

Avarda offers a complete white-label checkout and payment solution for retailers, including merchant specific account and possibilities for free marketing space where the retailer can expose offers to the consumer in connection with the purchase and increase consumers engagement.

“Through our service, we give the retailers an opportunity to increase conversion, lower their acquisition costs, achieve a high re-purchase rate and an increased engagement. All in all, this leads to topline growth and healthier margins. This has turned out to be very attractive value proposition for retailers in Finland.”

Avarda established a local Finnish organization in 2018, which has been a key success factor when building relationships with the customers.

“Since we started to establish the local organization, it’s been very exciting journey and fast pace in our growth. We have been successful in building a local team with great and talented people in sales, account management, development and customer service. Through our local presence and expertise combined with our northern European geographical footprint, we are helping local retailers to prosper and grow their business.”

Today, large e-commerce companies like Hobby Hall, Finnish Design Shop and Suomen Moneta have integrated Avarda’s solutions. Some of the customers have Nordic reach, adding further potential.

“Our target is to be the market leader, no doubt about it. In some respects and compared to other Nordic countries, Finland is in an early stage of digitalization and we are well positioned to grasp the e-commerce growth that is still ahead of us. An important aspect of this is that we are ready to help the local players to take on the big global online leaders such as Amazon, Ebay and Wish. With our product, they can ensure to stay relevant in an increasingly competitive market.”

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