Qliro expands cooperation with CDON

Qliro today entered into an expanded partnership with CDON AB (“CDON”), signing an agreement with CDON’s wholly owned subsidiary, Fyndiq AB (“Fyndiq”), with a total annual payment volume estimated at over MSEK 600. The expanded partnership also includes an extended agreement with Qliro as CDON’s payment partner, which already represents a significant portion of Qliro’s total payment volume and operating revenue. The new agreements are part of the company’s development strategy in the Payment Solutions area.

“We are proud to expand our cooperation with CDON and welcome Fyndiq to the Qliro platform. The renewed and expanded trust of the leading digital marketplace in the Nordic region is confirmation of our strategic investment in payment solutions, with a particular focus on merchants and their customer journey,” says Christoffer Rutgersson, CEO of Qliro.

The new agreement with Fyndiq will see Qliro Checkout process Pay Later and Pay Now volumes. The additional payment volume resulting from the agreement with Fyndiq is estimated to be just over SEK 600 million per year (referred to as gross merchandise value (“GMV”) in CDON’s financial statements and will be processed through the new Qliro Unified Payments payment service. It is expected that Fyndiq will launch on the Qliro platform in the second quarter of 2025.

In addition to the new agreement with Fyndiq, Qliro and CDON have extended the Qliro Checkout agreement for the CDON marketplace. This means that Qliro will continue to provide CDON and its customers with leading payment services. The expanded cooperation will also focus on developing new innovative solutions to improve customer experience and conversion, and is expected to strengthen the position of both companies in the Nordic market.

“We are very pleased with the decision to extend and develop our relationship with Qliro. Our shared heritage and long history of developing flexible solutions together provide a solid foundation for continued successful collaboration in the years to come. Qliro’s transformation and development of leading solution technologies that drive conversions, upsells and improved customer experience were key to this decision. The fact that Qliro is today a very forward-thinking and e-commerce-oriented organization is a big plus. For a moment I am reminded of how a similar company took the Nordic region by storm just over fifteen years ago,” says Fredrik Norberg, CEO of CDON.

Qliro was founded in 2014 under the slogan “by e-merchants, for e-merchants” by the former e-commerce group CDON Group, in order to create the best payment solution on the market, including: for CDON, which was then one of the group’s subsidiaries. After the division of the previous group (which ended in 2020), CDON still has a large share in total Qliro sales. Although this share has decreased as Qliro enters into agreements with new merchants, CDON still constitutes a significant part of the company’s sales volume and operating income.