Company:Fairown

From HandWiki
Fairown
Founded2018
FounderHendrik Roosna (CEO), Taivo Türnpu (CTO)
Headquarters
Estonia
ProductsProducts Renewal
Websitehttps://www.fairown.com


Fairown is a fintech company based in Estonia that provides sustainable solutions for managing product renewal cycles and reducing waste. The company was founded in 2018 by Hendrik Roosna and Taivo Türnpu. [1][2] The company provides services to help banks, brands, and retailers offer products as services through a subscription-based model, allowing consumers to renew their products after a specified time period instead of owning them outright. [3][4][5] This approach promotes a circular economy by collecting old products for refurbishment refurbishment, spare parts, or recycling rather than discarding them in landfills.[6][7][8][9][10]

History

Fairown has launched its services in Nordic countries in partnership with Stihl, a garden equipment manufacturer, expanding its offerings to include subscription-based fees for products from various industries.[11][12][13]

Fairown operates in the Nordics, Baltic states, and Central Europe, serving various industries such as electronics, gardening, and fashion.[11][14][15]

The company has partnerships with major brands such as Apple, Stihl, and Komplett, and has received investments from Commerzbank Group and Gateway Ventures to support its development and expansion across Europe.[16][17][18][19][20] The platform enables banks, brands, and retailers to participate in the circular economy by producing, consuming, and reusing products.[21][22][23][24] This partnership has launched a solution called TOPO Flex, allowing brands to offer monthly subscription products and manage the entire product life cycle.[25][26][27][28]

Fairown offers a Software-as-a-Service (SaaS) to companies for managing their product and service subscription models and the renewal process.[29] [30][31][32][33] The platform promotes sustainability by reducing waste and promoting a circular economy. [34][35][36]

Fairown has won awards for its work in the circular economy.[37][38][10] The company's commitment to sustainability and innovation has earned it recognition in the fintech industry and beyond.

Growth and Fundraising

Fairown experienced significant growth in 2021, as its revenue increased by 3,000%.[39][40] The company also saw a significant increase in the value of transactions brokered from 151,000 euros at the start of the year to 5 million euros in October 2021.[41][42]

The same year, Fairown raised 4.2 million euros during a seed round from various investors, including German Commerzbank, Austrian Gateway Ventures (formerly primeCROWD), and German STIHL Digital.[43][37][1][44][45][46][47][48] The company has stated its plans to expand its product offerings and establish a presence across Europe.[49][50]

References

  1. ↑ 1.0 1.1 "Missiooniga finantsidu jaoks on käibest olulisem telefoni tootmisele kuluv 80 tonni vett: "See on see, miks me seda teeme"". https://digipro.geenius.ee/rubriik/uudis/missiooniga-finantsidu-jaoks-on-kaibest-olulisem-telefoni-tootmisele-kuluv-80-tonni-vett-see-on-see-miks-me-seda-teeme/. 
  2. ↑ Janko, Oliver (2021-01-13). "Fairown Finance: primeCROWD investiert in estnisches Circular-Economy-Startup" (in de). https://www.trendingtopics.eu/fairown-finance-main-incubator-und-primecrowd-investieren-in-estnisches-circular-economy-startup/. 
  3. ↑ Kayed, Viktor (2022-07-29). "Green Fintech Fairown To Boost Circular Economy In Poland" (in en-US). https://paymentexpert.com/2022/07/29/fintech-fairown-launches-in-poland/. 
  4. ↑ Hancock, Forrest (2022-07-27). "Gospodarka o obiegu zamknietym dla Fintech Fairown rozszerza sie na Polske" (in pl-PL). https://www.biegowelove.pl/gospodarka-o-obiegu-zamknietym-dla-fintech-fairown-rozszerza-sie-na-polske/. 
  5. ↑ "Fairown Expands Its Circular Economy Solution in Poland with Apple Premium Reseller iDream and Inbank" (in en). https://financialit.net/news/alternative-finance/fairown-expands-its-circular-economy-solution-poland-apple-premium-reseller. 
  6. ↑ Paraskevopoulos, Dea (2021-12-03). "Fairown: A subscription-based solution to the hardware waste problem" (in en). https://e-estonia.com/fairown-a-subscription-based-solution-to-the-hardware-waste-problem/. 
  7. ↑ "Circular economy fintech Fairown expands to Poland" (in en). 2022-07-27. https://www.finextra.com/newsarticle/40708/circular-economy-fintech-fairown-expands-to-poland. 
  8. ↑ "The Mind of the CEO" (in en). https://issuu.com/nordicfintechmagazine/docs/nordic_fintech_magazine_sept22/s/16830612. 
  9. ↑ "Oioi, said mu vist kätte!" (in et). https://www.foundme.io/UUDISED/2022/09/06/FINANTSIDU-LAIENEB-RINGMAJANDUSE-LAHENDUSEGA-LEETU?UTM_SOURCE=LINKEDIN.COM&UTM_MEDIUM=FOUNDME. 
  10. ↑ 10.0 10.1 Leonard, Ronan (2022-12-13). "The big problem Hendrik Roosna CEO and Founder Fairown - Irish Tech News" (in en-US). https://irishtechnews.ie/the-big-problem-hendrik-roosna-ceo-fairown/. 
  11. ↑ 11.0 11.1 Gromek, Michal. "Recreating Apple’s Subscription-Based Check-Out Success In Other Industries" (in en). https://www.forbes.com/sites/michalgromek/2020/04/30/recreating-apples-subscription-based-check-out-success-in-other-industries/. 
  12. ↑ "Estonski fintech gospodarki cyrkularnej Fairown pozyskuje 4,2 mln euro z inwestycji zalazkowej na rozwój subskrypcji produktów i zmniejszenie ilosci odpadów - IT NEWS 24" (in pl-PL). 2021-11-05. https://itnews24.pl/estonski-fintech-gospodarki-cyrkularnej-fairown-pozyskuje-42-mln-euro-z-inwestycji-zalazkowej-na-rozwoj-subskrypcji-produktow-i-zmniejszenie-ilosci-odpadow/. 
  13. ↑ "Estonski fintech gospodarki cyrkularnej Fairown pozyskuje 4,2 mln EUR z inwestycji zalazkowej na rozwój subskrypcji produktów i zmniejszenie ilosci odpadów" (in pl). 2021-11-08. https://wiadomosci.onet.pl/kraj/estonski-fintech-gospodarki-cyrkularnej-fairown-pozyskuje-42-mln-eur-z-inwestycji/2qx5b2d. 
  14. ↑ "Vähem kui aastaga 3000% kasvanud Eesti idu kaasas 4,2 miljonit eurot" (in et). 2021-11-03. https://www.foundme.io/uudised/2021/11/02/tanavu-3000-kasvanud-eesti-pilvepohise-platvormi-arendaja-kaasas-ule-4-mln-euro?utm_source=linkedin.com&utm_medium=foundme%20wallpost&utm_campaign=tanavu-3000-kasvanud-eesti-pilvepohise-platvormi-arendaja-kaasas-ule-4-mln-euro. 
  15. ↑ "Fairown Expands Its Circular Economy Solution in Poland with Apple Premium Reseller iDream and Inbank - Fintech Finance". https://ffnews.com/newsarticle/fintech/fairown-expands-its-circular-economy-solution-in-poland-with-apple-premium-reseller-idream-and-inbank/. 
  16. ↑ Smith, Tyler (2022-07-29). "Fairown Launches Sustainable Products-As-A-Service Model In Poland" (in en-GB). https://thefintechtimes.com/fairown-launches-sustainable-products-as-a-service-model-in-poland/. 
  17. ↑ "Circular Economy Enabler Fairown Launches in Poland in Cooperation with Apple Premium Reseller Cortland and Inbank" (in en). https://financialit.net/news/personal-finance/circular-economy-enabler-fairown-launches-poland-cooperation-apple-premium. 
  18. ↑ "Fairown expands its circular economy solution with Inbank and Topo Centras" (in en). https://thepaypers.com/ecommerce/fairown-expands-its-circular-economy-solution-with-inbank-and-topo-centras--1258356. 
  19. ↑ "Fairown Expands Its Circular Economy Solution in Lithuania’s Consumer Electronics Market with Inbank and Topo Centras - Fintech Finance". https://ffnews.com/newsarticle/fairown-expands-its-circular-economy-solution-in-lithuanias-consumer-electronics-market-with-inbank-and-topo-centras/. 
  20. ↑ Baltic, Fintechnews (2022-09-07). "Estonia's Fairown Expands to Lithuania with Inbank and Topo Centras Partnership" (in en-US). https://fintechbaltic.com/6315/fintechlithuania/estonias-fairown-expands-to-lithuania-with-inbank-and-topo-centras-partnership/. 
  21. ↑ "Fairown launches in Poland in cooperation with Cortland and Inbank" (in en-US). https://ibsintelligence.com/ibsi-news/fairown-launches-in-poland-in-cooperation-with-cortland-and-inbank/. 
  22. ↑ "Fairown Expands Its Circular Economy Solution in Lithuania’s Consumer Electronics Market with Inbank and Topo Centras" (in en). https://financialit.net/news/personal-finance/fairown-expands-its-circular-economy-solution-lithuanias-consumer-electronics. 
  23. ↑ "Can circular economies do what ESG couldn’t? • 11:FS" (in en). https://content.11fs.com/article/can-circular-economies-do-what-esg-couldnt. 
  24. ↑ Robinson, Rosemary (2022-12-06). "Fairown rozszerza rozwiazanie gospodarki o obiegu zamknietym w Polsce o dystrybutora Apple Premium iDream oraz Inbank" (in pl-PL). https://czasebiznesu.pl/fairown-rozszerza-rozwiazanie-gospodarki-o-obiegu-zamknietym-w-polsce-o-dystrybutora-apple-premium-idream-oraz-inbank/. 
  25. ↑ "FAIROWN Z NAGRODA ASSET FINANCE CONNECT". http://biznes.newseria.pl/biuro-prasowe/fairown-z-nagroda-asset,b22135023. 
  26. ↑ Woffenden, Claire (2022-09-06). "Fintech Fairown Teams Up With Inbank to Expand Circular Economy in Lithuania" (in en-GB). https://thefintechtimes.com/fintech-fairown-teams-up-with-inbank-to-expand-circular-economy-in-lithuania/. 
  27. ↑ "Fairown laieneb Leedus koos Inbanki ja kohaliku turuliidriga". https://digipro.geenius.ee/rubriik/uudis/fairown-laieneb-leedus-koos-inbanki-ja-kohaliku-turuliidriga/. 
  28. ↑ "Fairown Expands Its Circular Economy Solution in Lithuania’s Consumer Electronics Market with Inbank and Topo Centras". https://www.baltictimes.com/fairown_expands_its_circular_economy_solution_in_lithuania_s_consumer_electronics_market_with_inbank_and_topo_centras/. 
  29. ↑ "Kiirelt kasvav finantsidu kaasas 4,2 miljonit, et sae- ja arvutitootjad saaksid oma kaupa teenusena müüa". https://digipro.geenius.ee/rubriik/uudis/kiirelt-kasvav-finantsidu-kaasas-42-miljonit-et-sae-ja-arvutitootjad-saaksid-oma-kaupa-teenusena-muua/. 
  30. ↑ "101 Top Software Startups and Companies in Baltic States - BestStartup.eu" (in en-US). 2022-04-21. https://beststartup.eu/101-top-software-startups-and-companies-in-baltic-states/. 
  31. ↑ Capital, Mouro (2022-05-03). "The Future of Sustainable Finance" (in en-us). https://www.fintechna.com/articles/the-future-of-sustainable-finance/. 
  32. ↑ MarketScreener. "Commerzbank : promotes networking of young green technology companies | MarketScreener" (in en). https://www.marketscreener.com/quote/stock/COMMERZBANK-AG-13057331/news/Commerzbank-promotes-networking-of-young-green-technology-companies-41866147/. 
  33. ↑ "Fairown expands its circular economy solution in Lithuania with Inbank and Topo Centras" (in en-US). https://ibsintelligence.com/ibsi-news/fairown-expands-its-circular-economy-solution-in-lithuania-with-inbank-and-topo-centras/. 
  34. ↑ Taremäe, Liisi (2022-05-02). "Spring 2022 issue of Life in Estonia highlights the Estonian FinTech sector" (in en-US). https://investinestonia.com/spring-2022-issue-of-life-in-estonia-highlights-the-estonian-fintech-sector/. 
  35. ↑ "FAIROWN Z NAGRODA W KONKURSIE ASSET FINANCE CONNECT - Arch NEWS". https://archnews.pl/artykul/fairown-z-nagroda-w-konkursie-asset-finance-connect,157339.html. 
  36. ↑ "Fairown Expands Its Circular Economy Solution in Poland with Apple Premium Reseller iDream and Inbank". https://www.baltictimes.com/fairown_expands_its_circular_economy_solution_in_poland_with_apple_premium_reseller_idream_and_inbank/. 
  37. ↑ 37.0 37.1 Kütt, Ave (2022-07-12). "Estonian FinTech Fairown allows tech giants like Apple to sell products as a service" (in en-US). https://investinestonia.com/estonian-fintech-fairown-allows-tech-giants-like-apple-to-sell-products-as-a-service/. 
  38. ↑ Bleach, Tom (2022-08-11). "How can a Fintech be Commercial While Being ‘Good’?' With Fairown, Revival and More" (in en-GB). https://thefintechtimes.com/how-can-a-fintech-be-commercial-while-being-good-with-fairown-revival-and-more/. 
  39. ↑ Ohr, Thomas (2021-11-09). "Estonian fintech startup Fairown secures €4.2 million empowering companies to contribute to waste reduction and conscious consumption" (in en-US). https://www.eu-startups.com/2021/11/estonian-fintech-startup-fairown-secures-e4-2million-empowering-companies-to-contribute-to-waste-reduction-and-conscious-consumption/. 
  40. ↑ "Estonski fintech gospodarki cyrkularnej Fairown pozyskuje 4,2 mln euro z inwestycji zalazkowej na rozwój subskrypcji produktów i zmniejszenie ilosci odpadów - IT NEWS 24" (in pl-PL). 2021-11-05. https://itnews24.pl/estonski-fintech-gospodarki-cyrkularnej-fairown-pozyskuje-42-mln-euro-z-inwestycji-zalazkowej-na-rozwoj-subskrypcji-produktow-i-zmniejszenie-ilosci-odpadow/. 
  41. ↑ "Estonski fintech gospodarki cyrkularnej Fairown pozyskuje 4,2 mln EUR z inwestycji zalazkowej na rozwój subskrypcji produktów i zmniejszenie ilosci odpadów (MediaRoom)" (in pl). http://infostrefa.com/infostrefa/pl/wiadomosci/40783497,estonski-fintech-gospodarki-cyrkularnej-fairown-pozyskuje-4-2-mln-eur-z-inwestycji-zalazkowej-na-rozwoj-subskrypcji-produktow-i-zmniejszenie-ilosci-odpadow-mediaroom. 
  42. ↑ Pun, Amanda (2022-06-20). "10 European startups fueling the transition to a circular economy" (in en-US). https://www.eu-startups.com/2022/06/10-europeans-startups-fueling-the-transition-to-a-circular-economy/. 
  43. ↑ "Saksa pangahiid süstis koos Austria fondiga kiirelt kasvavasse Eesti idufirmasse Fairown seitsmekohalise summa". https://digipro.geenius.ee/rubriik/uudis/saksa-pangahiid-sustis-koos-austria-fondiga-kiirelt-kasvavasse-eesti-idufirmasse-fairown-seitsmekohalise-summa/. 
  44. ↑ Novac, Dragos. "Fairown Finance announced raising a capital funding round from main incubator and primeCROWD ." (in en). https://nordic9.com/news/fairown-finance-announced-raising-a-capital-funding-round-from-main-incubator-and-primecrowd-news6435750782/. 
  45. ↑ Popescu, Sabin (2021-11-23). "With over 4 mln EUR Funding, Fintech Fairown Wants to Expand Across Europe" (in en-US). https://itkey.media/with-over-4-mln-eur-funding-fintech-fairown-wants-to-expand-across-europe/. 
  46. ↑ Novac, Dragos. "Fairown Finance raised €4.2 million seed round led by main incubator." (in en). https://nordic9.com/news/fairown-finance-raised-42-million-seed-round-led-by-main-incubator/. 
  47. ↑ "Saksa investorite uus lemmikidu sisenes Poola turule ja teeb seal koostööd teise kiirelt kasvava Eesti firmaga". https://digipro.geenius.ee/rubriik/uudis/saksa-investorite-uus-lemmikidu-sisenes-poola-turule-ja-teeb-seal-koostood-teise-kiirelt-kasvava-eesti-firmaga/. 
  48. ↑ Chase, Jefferson (2022-07-14). "“It doesn’t make sense to pile up things in your home” – Fairown CEO" (in en-US). https://www.marketsgermany.com/circular-economy-start-up-offers-products-as-service/. 
  49. ↑ "Your Daily FinTech News - July 29th, 2022" (in en). https://www.linkedin.com/pulse/your-daily-fintech-news-july-29th-2022-marcel-van-oost. 
  50. ↑ Allen, Patricia (2022-08-01). "Launches, Partnerships & Expansions: Interesting startup milestones we tracked this week" (in en-US). https://www.eu-startups.com/2022/08/launches-partnerships-expansions-interesting-startup-milestones-we-tracked-this-week/. 

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