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Tech Data buys European consumer finance platform Finance Technology

Tech Data is buying specialist platform provider Finance Technology which offers financing options to customers in retail, mobile and other channels. Finance Technology AS is a privately held company with offices in Oslo, Norway and Porto, Portugal. Founded in 2015 by financing and technology professionals, Finance Technology provides a consumer finance technology platform to enable electronics retailers, mobile operators and others to deliver financing solutions and other services to their customers through in-store and online channels.

Branded as “technology-as-a-service” (TaaS), the Finance Technology platform enables partners to manage the TaaS process through the technology product lifecycle and connects directly to key players in the process, such as banks, buyback guarantors and trade-in partners, to deliver faster and more agile approval decisions.

Resellers, retailers and operators can integrate the platform into their online or in-store environments as a white-label solution or using the platform API, allowing them to bring TaaS financing options to their customers with minimal investment. Partners can also benefit from enhanced up- and cross-selling opportunities as customers can easily opt for higher value products with additional accessories and services attached to the sale.

Stephen Nolan, senior vice president, Endpoint Solutions, Europe, Tech Data, said:

“The world is becoming more service driven and Tech Data is building a compelling and broad range of XaaS offerings to address this demand. The addition of Finance Technology is a further demonstration of Tech Data’s commitment to invest in digital capabilities that deliver improved experiences and greater agility for businesses across the technology ecosystem.”

Roman Rudolf, vice president, services, Endpoint Solutions, Europe, Tech Data added: “With Finance Technology, we can offer a fully integrated and user-friendly platform. The tool will help Tech Data partners to stand out in the marketplace with an excellent customer experience and attractive affordability options to make the latest consumer technology products more accessible to consumers. This platform complements our existing portfolio of innovative services focusing on areas such as TaaS, lifecycle management, sustainability and automated print supply management.

“We look forward to welcoming the Finance Technology team to Tech Data and to rolling out their platform across our European footprint,” added Rudolf.