Collector Bank

Verkkokauppa.com is among Finland’s largest e-commerce actors and a leading retailer of consumer electronics and home products, serving consumer and business customers. The acquisition includes a credit portfolio of approximately 90,000 end customers, with a total value of approximately SEK 350 million upon completion of the transaction. The acquisition represents a substantial increase of Walley’s current credit portfolio as well as transaction volumes in Finland and also includes a long-term partnership building on the already established cooperation between Verkkokauppa.com and Walley.
 
Norion Bank's payment segment, Walley, constitutes a strategic focus area for Norion Bank and represents an attractive player in the payments market. Walley places significant attention to comprehensive customer solutions, including product development, loyalty programs and customized client offerings. The acquisition aims to enhance Verkkokauppa.com’s commercial success while further strengthening Walley's market position in Finland.
 
– This acquisition marks a significant milestone in our ongoing expansion across the Nordics. Finland is one of our fastest-growing markets and by taking over Verkkokauppa.com’s financing business, we can accelerate our growth and deliver additional value to our partners and their customers, says David Lundqvist, CEO, Walley.
 
The acquisition has no material impact on Norion Bank’s result or financial position but is anticipated to contribute positively to profitability from the beginning.