Ingka Investments takes stake in BNPL venture Jifiti
Ikea’s holding company Ingka Group, through its Ingka Investments arm, has invested $22.5 million in Jifiti, for a minority stake in the FinTech venture.
Jifiti provides white labeled Point of Sale financing solutions for banks, lenders and merchants.
"Ingka Group is taking decisive steps into financial services, and a core part of our journey is to help make Ikea more affordable and accessible for our customers. This deal will further our integration of easily accessible financing solutions into the Ikea offering,” says Krister Mattsson, Managing Director at Ingka Investments.
“Our investment in Jifiti is another exciting step for Ingka Investments as it follows our recent other financial services investment in Ikano Bank.”
“We are confident this new investment will support us even more in becoming a life long partner to our customers by helping to improve their life at home and grow their businesses.”
Ikea, with its local banking partners in Spain, France, Portugal and Belgium, has been offering financing in its stores via the Jifiti platform since 2019 and is now rolling out to other countries.
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 e-commerce visitors worldwide.
This is the latest in a series of Ikea related investments made by Ingka Group, focusing on companies in such areas as digitalisation, customer fulfilment, FinTech and sustainability.
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