Collector Bank acquires Lowell’s payment solution

Today, Collector Bank entered into an agreement to acquire Lowell’s payment solution business, Lindorff Payments. The transaction means that Collector Bank will double in volume in Finland, thereby strengthening its role as one of the Nordic leaders in payment solutions.

Lindorff Payments has an impressive portfolio, with hundreds of Nordic clients and several strategic partnerships. Since its inception in 2011, the acquired payment solution business has handled millions of transactions for online and traditional stores alike.

“We are truly pleased about this opportunity to strengthen our position in the market for payment solutions in Finland and the Nordic region. The operations we are acquiring from Lowell are incredibly well managed. We are looking forward to serve our new clients increase sales and strengthen their customer experience,” says Martin Nossman, CEO of Collector Bank.

Just like Collector Bank’s existing offering, Lowell has B2C and B2B payment solutions for in-store as well as e-commerce companies. The transaction supplements Collector Bank’s offering and gives the company’s growth in the Nordic market another powerful boost.

Lowell states increased focus on core business as the main driver for the divestment.

“The sale of Lindorff Payments enables us to enhance our focus growing our market shares within our most important segment of the Nordic region, financial institutions. It also gives us the opportunity to explore new business segments within credit management services”, comments Trond Brandsrud, Lowell Nordics Managing Director.

The agreement will be signed today, and the parties are striving for completion before the end of the year.

For more information:

Martin Nossman, CEO Collector I Phone +46 70-330 26 75 I E-mail martin.nossman@collectorbank.se

Susanne Bruce, COO Collector I Phone +46 70-828 24 27 I E-mail susanne.bruce@collectorbank.se

Aki Tusa, Country Manager Finland I Phone +358 50-538 96 82 I E-mail aki.tusa@collectorbank.fi

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About Us

Collector is an innovative, digital, niche bank that offers financing solutions to private and corporate customers. Operations are comprised of the Retail and Corporate segments. Within the Retail segment, the company is engaged in lending to private individuals, invoice and payments by instalments to e-commerce and retail companies, credit card services and deposits. The Corporate segment includes real estate credits, factoring and company credits directed mainly at small and medium-sized enterprises, debt collection on behalf of customers (assignment debt collection) and the acquisition of portfolios of overdue receivables. The company has offices in Gothenburg (head office), Stockholm, Helsinki and Oslo. The Group consists of the parent company Collector AB (publ), wholly owned subsidiary Collector Bank AB, where the main business is conducted, Colligent Inkasso AB and Colligent Norge AS with business services and debt collection and Collector Ventures 1 KB with investments in Fintech. Collector AB (publ) is listed on Nasdaq Stockholm

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