To date, more than 5,000 online stores have already joined the Estonian ecommerce and fintech start-up Montonio. Ecommerce businesses across the Baltics, Poland and Finland are using the payment solution offered by Montonio. The fast-growing company has now set its sights on conquering ever-bigger markets in the near future.
The 5,000th online store of Montonio is the Lithuanian fast food chain Jammi, which uses the payment solution in its online food ordering website. According to Žilvinas Kuprėnas, Marketing Manager of Jammi, they saw a positive change almost immediately: “Thanks to Montonio, the share of successful payments increased by almost 10% which, in turn, increased the turnover of our online store by nearly 10% as well!” Many other online stores have shared similar success stories.
Even bigger plans for the future
According to Montonio’s co-founder and CEO Markus Lember, 5,000 online stores are just the beginning. “The Baltic market is our home turf, but our objective is to keep expanding to new markets. We launched our services in Finland and Poland this year and are currently working on entering the German market,” Lember explained. “If in the Baltics the turnover of ecommerce is around 4.4 billion euros per year, then Poland alone is four times larger than that and Germany more than twenty times larger. Thus, there is a wealth of potential.”
The team of Montonio has also grown rapidly. The company currently has more than 60 employees, attracting top talent from Europe. Director of Product Fredrik Lindquist, who has previously worked at Swedbank and Klarna, is from Sweden and has great plans for Montonio: “Montonio is more than just a payment solution provider. We are working towards offering all services an ecommerce merchant may need in their checkout in each country: most commonly used payment solutions, shipping, credit offers, and returns.”
Expanding internationally is now easier for merchants
The expansion of Montonio also benefits merchants who are planning to take on external markets. “We provide solutions to two key questions: how to collect payments and how to deliver products in the new target market,” Lember claimed.
Montonio provides payment links, card payments, automatic shipping label printing and instalment solutions for online stores and focuses on improving the user experience of shopping carts. Montonio’s services are currently used by over 5,000 online stores in the Baltics and Poland.
Want a success-oriented payment solution for your online store as well? Look no further and get started today by creating your Montonio account.