Fyndiq

About Fyndiq

Fyndiq AB operates as an online marketplace for bargain products, connecting merchants with value-conscious consumers primarily in Sweden. The company was founded in 2009 by a team of entrepreneurs: Dinesh Nayar, who had previous experience with Happy Socks; Fredrik Norberg; Micael Widell; David Brudö, founder of the hotel booking service Destly; and Dan Nilsson, who founded Roliga Prylar and Ehandel.se. The initial concept for Fyndiq emerged from co-founder Fredrik Norberg's personal struggle to sell surplus inventory from his own webshop, highlighting a market need for a dedicated channel for online merchants to offload residual stock.

The platform functions as a business-to-business-to-consumer (B2B2C) marketplace, meaning Fyndiq itself holds no inventory. Instead, it provides a channel for approximately 1,400 to 1,700 retailers to sell their goods directly to consumers. The business model is centered on commission-based fees; Fyndiq charges merchants a percentage of each sale, with no setup or monthly listing fees. For consumers, the platform offers a wide assortment of products across various categories, including fashion, home & living, electronics, beauty products, and toys, with a focus on items priced under £20. Fyndiq manages all customer service and payment processing, allowing merchants to focus on product sourcing and fulfillment.

Since its launch in 2010, the company has seen significant growth in its product catalog and sales volume. Over the years, Fyndiq has raised substantial capital from investors such as Northzone and Industrifonden to fuel its expansion. A significant milestone in the company's history was its acquisition by competitor CDON in February 2023. Despite the merger, both the Fyndiq and CDON brands continue to operate as separate customer-facing entities. Following the acquisition, Fyndiq's co-founder, Fredrik Norberg, assumed the role of CEO for the entire CDON group.