Fairown, an Estonian fintech company that offers products-as-a-service to banks, brands, and retailers, is expanding its offerings in the Lithuanian consumer electronics market by partnering with local bank Inbank and retail consumer electronics company Topo Centras to launch the solution TOPO FLEX.

The fintech’s suite of software and services allow brands to offer products for monthly subscriptions and manage the entire product life cycle from purchase to periodic renewals, repurposing, and recycling.

This allows companies to participate in the circular economy by sustainably producing, consuming and reusing products, thereby reducing both excessive waste and the need for raw materials by extending products’ lifetime value.

Under the new partnership, Fairown will manage TOPO Flex’s product renewal cycles, Inbank will provide the product financing, and Topo Centras will sell products to consumers.

Vaidotas Rimeikis, Lithuania Country Manager at Inbank said,

“With the electronics market changing beyond recognition over the past decades, consumers are looking for new solutions of how to get the most up-to-date products in a sustainable way.

 

We believe this innovative buying option will benefit Lithuanian consumers by delivering an alternative way of purchasing.”

Remigijus Štaras, CEO at Topo Centras said,

“We are entering the most important period of the year – Christmas – by being even more competitive not only in terms of better offers but also sustainability as Fairown will guarantee a new life to the devices used by our clients.”