Sustainability-focused fintech, Fairown, has announced plans to expand into central Europe and develop a circular economy, by helping banks and vendors offer products as a service. The platform will join forces with Apple Premium Reseller Cortland and Inbank for its launch in Poland.
The fintech will connect banks and merchants helping them to provide products as a service through monthly subscription plans. Over 50,000 consumers are currently using their services in Scandinavia and the Baltics, via brands such as Apple, STIHL, and Komplett.
Fairown plans to offer sustainable solutions by reducing waste and recycling materials to extend products’ lifetime value. This means that when a product is renewed the older item is sent back 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 is to control product renewal, Inbank to finance the project, and Cortland to sell the product.
The 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 the Fairown’s software.
Hendrik Roosna, CEO at Fairown, commented: “Sustainability defines us. We are driven by the United Nations Sustainable Development Goals, which combine industry innovation with responsible consumption and production. Merchants and consumers can do so much together by making greener choices. We are all about giving them this opportunity.”
Tomasz Rzeski, country sales manager of the Inbank Branch in Poland, stated: "Cortland SMART is a solution that enables the purchase of Apple smartphones on the most attractive terms currently available in the Polish market. The offer and the process of granting financing for the purchase of the selected iPhone are extremely simple and transparent, and most importantly, they provide customers with significant savings."
Roosna added: “We view 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 Nordics continues to be highly encouraging and we are confident that Polish consumers will be equally welcoming and positive.”