STOCKHOLM, Feb. 28, 2019 /PRNewswire/ -- TF Bank has within its segment Ecommerce Solutions signed an agreement with Estonia's largest online retailer Hansapost.
Hansapost was founded in 1997 and is today the market leading online retailer in Estonia with more than 300,000 products in its portfolio.
The cooperation with Hansapost marks a breakthrough in a new market for TF Bank's offering to online retailers. The agreement runs for several years and is expected to generate significant volumes over time.
"TF Bank's payment and financing solutions continue to gain ground among online retailers in the Nordics, and now also in the countries around the Baltic sea. Through the agreement with Hansapost, we show the scalability in our business model, where the products easily are commercially and technically adapted for new markets. Our loan portfolio within the Ecommerce Solutions segment amounted to approximately SEK 1 billion at year-end, and we see good opportunities for further growth," said Mattias Carlsson, CEO of TF Bank.
TF Bank in brief
TF Bank is an internet-based niche bank offering consumer banking services and e-commerce solutions through a proprietary IT platform with a high degree of automation. The platform is designed for scalability and adaptability to different products, countries, currencies and digital banking solutions. TF Bank carries out deposit and lending activities for about 1 million consumers in Sweden, Finland, Norway, Denmark, Poland, Germany, Estonia, Latvia and Lithuania through subsidiary, branch or cross-border banking. In its Ecommerce Solutions segment, TF Bank offer next-generation payment and checkout solutions for online retailers in the Nordics, Estonia and Poland. TF Bank is listed at Nasdaq Stockholm.
For further information, please contact:
Mikael Meomuttel, CFO and Head of Investor Relations +46(0)70-626-95-33
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SOURCE TF Bank AB