Circular economy fintech Fairown expands to Poland
Sustainability-focused fintech Fairown has announced plans to expand into Central Europe and develop a circular economy, helping banks and suppliers to offer products as a service. The platform will join forces with Apple Premium Reseller Cortland and Inbank for the launch in Poland.
Fintech will connect banks and merchants and help them offer products as a service through monthly subscription plans. Over 50,000 consumers currently use their services in Scandinavia and the Baltics, via brands such as Apple, STIHL and Komplett.
Fairown plans to provide sustainable solutions by reducing waste and recycling materials to extend the lifetime value of products. This means that when a product is renewed, the older item is returned to the market for reuse.
The partnership between Cortland, Inbank and Fairown will facilitate the green ambitions of retailers and financial institutions in Poland; Fairown will control the product renewal, Inbank will finance the project, and Cortland will sell the product.
Fintech aims to help large businesses become more environmentally friendly by developing a new circular market economy for products to be reused and recycled. The lifetime of the product will be monitored by Fairown’s software.
Hendrik Roosna, CEO of Fairown, commented: “Sustainability defines us. We are driven by the UN’s sustainability goals, which combine industrial innovation with responsible consumption and production. Sellers and consumers can do so much together by making greener choices. We are about giving them this opportunity.”
Tomasz Rzeski, Country Sales Manager of the Inbank division in Poland, stated: “Cortland SMART is a solution that enables the purchase of Apple smartphones on the most attractive terms currently available on the Polish market. The offer and the process of providing financing for purchases of the selected iPhone are extremely simple and transparent, and most importantly, they provide customers with significant savings.”
Roosna added: “We see entering the Polish market as the next logical step in our expansion as we look to spread the benefits of the circular economy far and wide. The feedback we receive about our sustainable subscription model from existing partners and more than 50,000 subscribers in the Baltics and the Nordics continues to be very encouraging, and we are sure that Polish consumers will be just as welcoming and positive.”
