The leading subscription and buyback solution provider from Estonia, Fairown partners with Miete24, the German B2B digital platform for ICT products, to provide merchants with a unique combination of B2C subscription and product buyback alongside a B2B rental service.
The solution acts as a one-stop shop for German consumer electronics and information technology brands, introducing affordable payment programmes to their B2B and B2C customers.
Hendrik Roosna, Founder and CEO at Fairown, celebrated the partnership, “This cooperation brings affordability to the next level. Combining Miete24’s B2B rental and Fairown’s B2C subscription and product buyback with embedded financing, merchants can now offer complete and affordable payment programmes to business and private customers.”
Affordability Is Redefining Consumer Electronics
A high average price and low margins are intrinsic to the consumer electronics business. As prices and production costs increase, the purchasing power decreases. The market has become very competitive, while customers are more and more cautious with purchasing decisions. That’s why affordability has become ever more important.
Many customers decide at checkout whether to make the transaction as a company or an individual. To remain competitive in this market, merchants can stand out by creating or advancing their affordability strategies, making products available to B2B and B2C customer segments.
This collaboration will benefit merchants on both fronts. It captures this exact market momentum and empowers them to offer products affordably. In other words, creating low-cost monthly pricing plans to make products more accessible for a wider range of customers, without compromising on quality or brand value.
Heino Deubner, Founder and CEO at Miete24, said, “This partnership is a major step for us in advancing the concept of rental as a flexible and sustainable alternative to ownership. With grenke AG’s investment, we have solid financing solutions for businesses, but we lack a suitable option for private customers. With Fairown, we’re filling that gap and introducing a competitive solution to online retailers in Germany.”
Asset-Light, All-In-One Solution for Merchants
The implementation of this all-in-one solution has been made as easy as possible from both technical and financial perspectives. Rental, subscription, and buyback processes are directly integrated into the checkout, providing customers with a simple and transparent payment option.
It’s also an asset-light solution for merchants. As Fairown complements the partnership with its product buyback and credit combination, the credit risk is carried by Fairown's partner banks.
Roosna explained, “Fairown offers embedded product financing by partnering with a local bank to manage the risk. There is no credit risk for the merchant. They can unlock cash flows by getting paid upfront for their products and driving repeat sales. In addition, customers get attractive monthly prices.”
Merchants Across Europe See Subscription and Product Buyback as Drivers of Growth
Leading merchants in Europe seek to offer Fairown’s solution to gain a competitive edge. Combining it with Miete24’s B2B expertise unlocks even more growth opportunities.
The partnership represents an innovative form of product financing. Merchants serving business and private customers can enjoy its upsides, from recurring sales and increased customer loyalty, to lower environmental impact. Customers get affordable prices, a flexible way of ownership, and a sustainable means of consumption through buyback and product reuse.
Renowned brands like STIHL, the German power tools manufacturer; BSH BlueMovement, the German household appliances provider; Komplett, the largest Nordic e-commerce player; and iSpot Poland, one of the largest Apple Premium Resellers in Europe already offer the benefits of product buyback to their customers.
Fairown’s affordable subscription and product buyback solution has gained traction across Europe – 100,000+ consumers prefer it to any other payment option. The company has expanded at a rapid pace, operating in nine countries, from the Baltics and Nordics, to Germany and Poland.