Now clowner one of these big unicorns many funding rounds going international multi-product an amazing
execution khun
Thank you. Thank you so much for being here
You're going to do an interview also, perfect. I'll sit here. Oh you have slides. I don't know interview. I have no slice
so got a little bit confused here is
Mr. Page, here we go. So that quite a few payment providers and interestingly
They all have their own story and interestingly. They're all executed very well
I remember the early days when I was a banker at Lehman Brothers, and we added up all the
projections of companies would have got to
300% market size but payment seems to be this huge
Ocean of opportunities were there's just grows and grows and grows and no one really is taking market share from each other. Can you explain?
Yeah, what cloners call businesses, so I think it's in general heart label clarinha an immense company
We are a bit different. We are not your typical
Piece be or require or like our mission really is to in essence create great experiences for our consumers
that's free of meaningless time from managing the purchase or
finances and at the same point in time the labor value to our merchants and partners and that have
manifested itself in a very broad product portfolio
we have payments that enable retailers to increase their average order value or
Acquire new customers by increasing conversion to a very rich consumer app that enables customers to manage their purchases and track returns
Get their money back instantly if they want to return something. So we have a very broke for a portfolio
It sounds more like a tech enabler. Mmm processor
We are very much much more of a tech enabler, but also we would call ourselves experienced builders
And of course we process a lot of money like last year. We process nearly 20 billion dollars, but so $8 tier view
Yes, but that is simply frozen and means to actually solve a problem and help consumers to manage their purchases and finances
So for us being in the money flow is a necessity
We don't mind doing it
But it's all about the experience that we create for customers and merchants and you started very much in the yeah
financed ecommerce
action, correct in the old days
How big is that part of your business dude? Don't say guys ecommerce is still in today's world 90 plus percent
Over volume we are still very much ecommerce first
We are starting to kind of widen the verticals and and successfully trailing new products that enable
Customers to actually take our prefer paint minutes into the stores, but that is something that we've only started two years ago
How would a national it's clarinha today?
Nationally started in Sweden. I think Germany you did an acquisition this as a fault you got eyes on
Later on bill pay years ago. Yes, so it's jump into your largest market today
Germany is our largest market in terms of volume and revenue
UK and US are our fastest growing markets. We are currently active in fourteen different markets
Where everything is basically Europe except for the US
Where's the market going? I think PayPal still has the highest commissions and in the industry was like two and a half percent
It said that they accept every transaction on the other side almost
How important is it to stay competitive if you think about price if you think about?
conversion coverage and the additional services
listening to you and
Having observed the market and also yesterday. I talked to the CEO of wire card. Mr
Bond, which was super interesting
It got very complex right in order to keep the customer and it is it increasingly is like let's face it
Transactions simply moving money from A to B are getting commoditized rapidly. That means
scale and volume does matter to kind of fight tightening margins and the only way to really kind of
Keep growing the business and and and sustain
Your margins is to add new value
And we feel we are swinging about positions for that as we have a red ship with both consumers and Merchants that we can
Really create get added value
If you look at some of the new products that we are about to launch we reach we have launched
it's all about helping merchants not only with payments but actually helping them before payments happen drive traffic or
After payment really your eyes drive consumers back to the e-commerce store
so basically connecting the purchase cycle and get a consumer back on the
Merchants website when they're actually paying their bill
So we will try to connect the entire ecommerce funnel and no longer focus only on transactions and purchases
So the reminder, you know rad ventures from the US who have big companies on the marketing side
So you're at doing everything around the transaction, and yes, we all just the processing, correct?
We put your more the analytics after correct how many how many employees does clowner have today?
so here today, we are slightly over two and a half thousand and please
The majority on the tech side so slightly over a thousand engineers fifty product managers
775 million dollars apparently if you say I don't
Amira, and they hosted a lovely dinner last night. It's one of your shareholders, correct? I
think you're
the the the other
Swedish company which was acquired recently by pay prize was like
Two billion exits or something. Well, they called again. I forgot the name action. I suppose I said exactly
They were competing with some up etc. Correct? What's the future of clowner? I mean you're growing bigger and bigger
Is it better to stay a private company on the other hand?
You could probably attract more talent when you're public
But what's the future of Carnaby's many?
Investors here who are looking for big bets it exactly we've for now very much prefer staying private
We see that in today's world still the the benefits of being private outweigh to disadvantage. I completely agree with you
We're now expect us to stay private. Then we've found creative solutions to kind of still attract talent while being private
So at this point in time, I don't use going anywhere anytime soon. But of course the market might change circumstances might change
So it's kind of hard to give you different ends from that but and you have very strong shadows who adds?
Permira and then you have s Premera square capital on this Poulsen
Tamiko, so it was a very wide rarity or if you get capital you will always get it
We are very confident that if we need to raise we can raise
Let's talk about acquisitions the other side
Of the M&A are you interested in?
Continue to buy companies and if so because we have many companies here
I think over 2000 companies registered. What type of companies are you looking for?
We are definitely interested in acquiring new companies
We looking back at our acquisitions support bill pay and others
They have served us extremely well, and when we look at potential acquisitions, we are mainly interested in either
Acquisition that gave us additional talents. We've done it in the past
acquisitions that enable us to
faster skilled globally so that enables to open up new markets and lastly more talent focused acquisitions that enable new
technology on a platform new capabilities
What do you think is AI going to do to your sector? I wasn't expecting this
No, everyone talks about AI I think yesterday at four o'clock. I was like something missing here
Nobody brought up AI yet. So it's not any more buzzword used many times so they read a bit more
I've learned from ping'an who is doing a lot of investments in that space
How important do you think AI is to payments?
I mean why is why is every website asking what credit card I want to use when you know
I use always the same and they should actually know it somehow is there like
Some magic you can do with AI in your sector. So I think that's I'd rather talk about machine learning
I think that machine learning is already in many famous companies fairly important like we use this on
Large-scale to underwrite credit to assess fraud risk to dynamically predict, which payment method is preferred by a consumer
to choose to which consumers to market which product so
machine learning in karna the
smart utilization for data that we have is very very important and we see that importance grow rapidly and
As we have a large data set and as we see the value that we can creative kind of
Driving dynamic experiences and if you want to truly drive a dynamic experience for a customer
Machinery and data is very very important
How much is mobile of your transactions today? I think we are very much in line with with industry
So expect 50 plus percent of our transaction for him to be mobile initiated. Fantastic
Well, I'm glad Germany worked out well for you. I love Sweden
I've done many deals there and I'm very glad you came say hi to Sebastian. Thank you very much. Really appreciate
