Euroloan and Finlayson partner to deliver world’s first circular economy solution for home textiles

Finlayson now offers a more responsible way to buy, use and recycle home textiles for Finnish customers. The service enables customers to return used products, to be resold or recycled into new products by Finlayson. As much as 250 million EUR worth of home textiles stored in Finnish homes are not used (Taloustutkimus 2016). The service improves the utilization rate for the textiles in an economic and environmentally friendly way.

The service enables customers to buy textiles with interest-free monthly payments, and to get a sizable discount when replacing old textiles with new ones. The purchases can be paid by invoice or in monthly instalments up to 36 months, powered by Mash, the new payment and financing solution of Euroloan.

“This is the first circular economy solution for home textiles, as far as we know,” said Finlayson CEO Jukka Kurttila. “We want to make it possible for everyone to decorate their homes with beautiful and durable textiles. At the same time, we challenge our customers to consider what they really need to keep. Most people will want to change the look of their home on occasion. We give the old textiles a new life as someone else’s treasure and take full responsibility for the recycling of our old products.”

The most environmentally friendly option is to wear out the textiles. Finlayson will open up a second-hand shop for textiles in good condition. Unusable textiles will be recycled as fibres in new products as much as possible, with the rest used for energy production.

James Hickson, CEO of Euroloan Group commented. “We are proud to be launching our new affordable payment and financing solution, Mash in partnership with Finlayson. As two brands, committed to innovation and exceptional customer service we are excited to be able to offer exclusive pay by invoice solutions and enhanced customer choice at point of sale as well as participate in the world’s first circular economy solution.”

About Mash and Euroloan

The Mash payment platform and brand are owned by Euroloan Group (more information at www.mash.com). Euroloan Group PLC is a rapidly growing international group, specialized in highly automated financial services and financial technology (FinTech).

Utilizing advanced algorithms, machine learning and true end-to-end automation, the Group offers consumer loans, credit cards and merchant payment solutions on Euroloan’s secure cloud-based platform. More information about Euroloan Group is available at www.euroloan.com, Finland www.euroloan.fi, Sweden www.euroloan.se and Poland www.euroloan.pl.

About Finlayson:

In 1820, the Scotsman James Finlayson ended up in Tampere, which at the time was only a couple of wind-beaten huts and an unharnessed rapid. A few decades later the largest industrial company in the Nordic countries stood in the same place, with its own church, hospital, school and fire brigade. Today, we at Finlayson are convinced that the only way to honour our history is to show the same responsibility, courage and broadmindedness that our early owners did. Finlayson has 26 stores and 3 shop-in-shops in Finland and Sweden. Products are also available from the web store and well-stocked retailers. The turnover for 2016 was 35 million euros and by the end of the year the company consisted of approximately 267 employees.

For more information see:

www.finlayson.fi

For more information please contact:
James Hickson, CEO, Euroloan Group
email: [email protected]

Jukka Kurttila, CEO, Finlayson Oy
Phone +358 40 715 5760
email: [email protected]