Finnish startup company being integrated into the global payment group Bambora

Swedish Bambora was started up only two years ago and has rapidly become a significant player in the payments market. With their specialist expertise in e-commerce solutions, Finnish Maksukaista has become a part of a global initiative that aims to simplify the way small and medium-sized businesses can receive payments.

- Imagine a restaurant that serves only one ingredient. The customer is forced to go to one restaurant to get potatoes, another to get steak, and a third for the sauce. This is what our industry looks like. What Bambora does differently is to offer the full menu, allowing customers to choose themselves what they want on their plate. Maksukaista is a very fascinating company, one that we have had our eyes on and one that shares the same vision as Bambora. With our broad expertise within the field of payments and their specialist expertise in e-commerce, we have become an even stronger team, observes Johan Tjärnberg, CEO of Bambora

Maksukaista was launched in 2013 by the company Paybyway Oy, which was formed last year by a team of IT and finance experts. One of their insights about the market was that the offering of mobile and online payments for small and medium-sized business should be improved to help the businesses to grow and new businesses to be launched. The key idea from beginning was to offer a simple payment process to help the businesses to increase their sales. Maksukaista also realised that too much time is spent on administration. Right then Maksukaista was born out of a vision to offering whole payment chain and enterprise scale payment services from off-the-shelf, thus making life easier for small and medium-sized businesses.

- Small businesses – such as an online shop or a restaurant – are often operated by enthusiasts who are forced into solving everything by themselves. However, a merchant should not have to spend time thinking about what they are going to get paid; it should simply just happen. We are constantly striving to simplify our services. Coupled with Bambora, we’ve become stronger, which makes our customers feel safe and secure, focusing on what they’re passionate about, and increasing their sales”, says Ville Vähä-Nuuja at Maksukaista

Bambora is a start-up company that has grown extremely rapidly and now has operations in Europe, Australia, New Zealand and North America. In about two years, the organisation has grown to 520 employees with offices in 7 countries, and an annual transactional turnover of SEK 350 billion. When Maksukaista becomes a part of Bambora, this is because together the companies will strengthen their offering in Finland of customised payment solutions: offline, online and mobile.

For further information, please contact:

Mika Arponen, mika.arponen@bambora.com

Ville Vähä-Nuuja, ville.vaha-nuuja@paybyway.com