Ingka Investments Invests $22.5M in Leading Fintech Company Jifiti for Minority Stake
Summary
"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. IKEA, with its local banking partners in Spain, France, Portugal and Belgium, have already been offering financing in their stores via the Jifiti platform since 2019 and are now rolling out into other countries. Ingka Group and Jifiti will collaborate to develop and extend IKEA Retails financial services to its 706 million annual in-store customers and 3.6 billion e-commerce visitors worldwide. Jifiti works with leading financial institutions including Mastercard, Citizens Bank, CaixaBank and Crédit Agricole, and retailers such as IKEA, Walmart and others worldwide. This allows Ingka Group to be as relevant as ever with respect to our core business, and to broaden our investment landscape and diversify our financial risk and return profile.
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