IKEA has already been offering financing in its stores via the Jifiti platform since 2019
Ikea invests over $22M in ”buy now, pay later” company. Source: pexels.com
Ingka Investments, the investment arm of IKEA’s owner and operator Ingka Group has invested $22.5 million in Jifiti, for a minority stake in the company.
According to the press release, Ingka Group and Jifiti have a long-standing commercial partnership with Jifiti acting as a facilitator of IKEA Retail’s and consumer financing services.
The aim is to have the Jifiti platform facilitate the IKEA in-store and e-commerce POS financing across markets. 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.
Besides, the investment will enable Jifiti to embark on its next growth phase and achieve its goal of becoming the leading POS financing platform. The company plans to enhance its technological and product development, and scale internationally to new markets.
We’ve reported that Amazon rolled out its store on Korea’s e-commerce marketplace.
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