Bonnier Growth Media invests in Sweden's leading cashback site.
In the U.S. and U.K., the “cashback” phenomenon, where online consumers get money back from their web purchases, is a well-established concept and a billion-dollar industry. Now Swedish online shoppers will be able to get money back from the cashback site Refunder.se. The site received a soft launch in October 2013 and to help accelerate its development, Bonnier Growth Media is investing in the company, becoming a co-owner together with the site’s founders.
“As a consumer, there are clear economic incentives for shopping via Refunder.se,” says Fredrik Ohlsson, CEO and cofounder of Refunder. “We are immensely pleased to have the support of Bonnier Growth Media for the continued rapid expansion that we’re facing.”
Refunder.se gives online consumers refunds on all digital purchases at over 200 participating web stores, a number that is rapidly growing. Unlike regular coupon services, cashback consumers aren’t limited to special offers but get money back on the entire selection of the participating stores.
“We have followed the development of the cashback phenomenon with growing interest and see big potential in the concept and our investment in Refunder.se,” says Ulrika Saxon, CEO for Bonnier Growth Media. “Fredrik, Victor and their team have set the stage and we’re now ready to push the button for extensive growth.”
The founders of Refunder are Fredrik Ohlsson, Victor Dahlborg, Joakim Kempff and Andreas Adler, all seasoned entrepreneurs with previous experience from, among other companies, MTG and PriceRunner. Following the signing of the deal, Bonnier Growth Media will own more than a third of the company, and Ulrika Saxon will be chairman of the board for Refunder.