Cashback company makes Swedish acquisition

Staffordshire-based Top Online Partners Group (TOPG), which owns cashback site TopCashback, has acquired Sweden’s largest cashback provider Refunder.

The group announced its initial stake in the Nordic business in early 2021 as part of an agreement to fully acquire Refunder by 2024. It has now completed the deal one year ahead of schedule.

Founded nine years ago, Refunder has grown to be the leading cashback site in Sweden, with more than 900,000 members. In 2018 it expanded into Poland, and the company also operates Bast-I-Test which undertakes consumer product tests.

The Swedish business will remain independent under TOPG’s ownership, with existing teams at Refunder and Bast-I-Test remaining in place, including founders Fredrick Ohlsson and Victor Dahlborg.

This acquisition is TOPG’s latest international venture, adding to the group’s six strong network of cashback sites. Operated under the TopCashback brand, the sites in UK, USA, China, France, Germany and Australia have a membership base of over 21 million people worldwide.

Chris Heather, shared services director at Top Online Partners Group and chairman of Refunder, said: “We are delighted to have completed the deal 12 months ahead of schedule and have Refunder fully join the group. We are really looking forward to building on the excellent working relationship we already have with Fredrik, Victor and the whole Refunder team to help them deliver their long terms plans for the business.

“As two companies bound by one mission – to help people save as much money as possible – our immediate priorities will focus on supporting Refunder’s innovative proposition to save their members even more money.”