A bad year for fintech but a good year for Zimpler
Stockholm, 22 December 2022 — Despite a global economic downturn, and major cutbacks in the industry, 2022 has been the most successful year to date for Zimpler, as the fintech company focused on new products and expanding into new segments and markets.
“I personally think that 2022 has been the most interesting year for Zimpler. Our goal this year was to expand Zimpler’s product range, grow in more segments and reach more markets, something we not only succeeded in but have surpassed”, says Johan Strand, CEO at Zimpler.
Zimpler launched its current product, an account-to-account solution for companies in several different segments, such as e-commerce, travel or gig economy, three years ago. This period has been eventful, to say the least.
Johan Strand, CEO of Zimpler, comments on last year's focus: “Already in 2020, we knew we wanted to develop more products based on the account-to-account payments technology we use today. There are unlimited use cases for it, and they suit several different business models. We can also see that infrastructure is emerging in a number of different markets that is perfectly suited for account-to-account payments."
Product range expansion with a focus on corporate transactions
At the beginning of the year, Zimpler launched B2B Payments, which allow direct bank payments between business accounts, a long-neglected segment that has already brought over twenty new market-leading customers in the first six months.
Fredrik Rubin, Director of New Solutions at Zimpler, comments on the market’s response to the new B2B solution: "The fastest growing segments for B2B have been e-commerce and financial services, with e-merchants and retailers showing huge interest in fast business payments. We see that very clearly in our latest partnership with Elon, one of the biggest merchants in consumer electronics in the Nordics."
Earlier this year, Zimpler also launched the Paylink solution, to simplify invoice payments. Zimpler’s case study shows that as many as four out of ten consumers, choose Paylink to pay invoices when the function is offered, which has led to an improved cash flow of up to 30 percent for Zimpler's customers.
Zimpler as a payment solution - fastest growing segments
In 2022, Zimpler has grown the most in financial services, the travel industry, and e-commerce, which has increased by 273% in the number of active merchants. The company has also focused on expanding in the restaurant industry, sports clubs and association activities.
Fredrik Rubin explains the high demand in account-to-account payment and says: "One area where we see strong growth is fast payments, which are in demand in several segments, everything from expense management and salary payments to financial services and fast returns." Zimpler's global growth journey now reaches markets outside of Europe."
During 2022, Zimpler expanded its geographic coverage to ten new markets and plans for at least eight new ones during 2023. Zimpler's geographic growth means that they can now offer instant payouts in a total of 24 markets. Meanwhile, the company announced in November that it is opening an office in Brazil to tackle the fast-growing South American market.
Sylvestre Thenor, Head of Expansion at Zimpler, says: "It is incredibly exciting and rewarding to be part of such a strong expansion journey as Zimpler is undergoing right now. I see no reason for slowing down as simple, fast online payments are sought out by all companies no matter the market."
To speed up the growth journey, the company has also, in 2022, brought in Katarina Bonde as the new chairwoman of the board and strengthened the owner base with Nordstjernan Growth.
Johan Strand, CEO of Zimpler, says: "With Katarina's experience from fast-growing scale-ups and Nordstjernan's long experience from international trade, we have strengthened the company with important competence to take the next step in our growth journey."
For more information, please contact:
Maria Frändegård, Head of Communications at Zimpler
+46 (0) 72 888 42 05
press@zimpler.com
About Zimpler
Zimpler is a Swedish next-generation fintech company providing faster, easier and more secure transactions – without the need for cards. With offices in Sweden, Malta and Brazil, Zimpler specialises in account-to-account payments and their products are currently live in nine countries. With transaction volumes vastly increasing every year, they’re rapidly expanding across Europe, through Latin America and with the sight set on the global stage. Zimpler is on a mission to be the universal way to pay and get paid.
