SIGNIFICANT GROWTH RATES ON COMPETITIVE MARKETS IN EUROPE
In 2016, Karman Connect launched its loan comparison services on the biggest and most competitive market in the Nordic region: Sweden.
From the get-go, we set up a close working relationship with the Swedish-based affiliate network Adtraction, which helped us build up a significant market position in just a short time. A position which, through organic growth and strategic investments, we succeeded in reinforcing even further during the first year of the Coronavirus pandemic, achieving a truly remarkable User Growth Rate of 34 percent. Moreover, it was with some satisfaction that we noted appreciable progress on key parameters such as paid search (SEM) market shares and organic search (SEO) visibility. As a result, Karman Connect is the largest fintech affiliate on the Swedish market today.
We have developed the powerful working relationship between Karman Connect and Adtraction over the years, in step with the appreciable growth both companies have experienced throughout Europe. Karman Connect has expanded so strongly that in 2021, we reached more than three million unique users in Europe. Adtraction, in turn, received an extra boost to its growth in December 2021, when the Swedish affiliate network was listed on the Nasdaq First North Growth Market.
On the one hand, they have a corporate culture whose principal features are a relaxed attitude and a casual approach to life – simply put, they are pleasant people with a good sense of humour, which is something I really appreciate in close working relationships. That said, their approach to doing business is extremely serious and ambitious; they are never satisfied with the status quo, striving constantly to optimise every conceivable parameter, to become even better and to reach even further. This is a trait that is incredibly important to Adtraction and has played a significant role in building the high level of trust that distinguishes our partnership today.
At Adtraction, we adhere firmly to the philosophy that if you are willing to share, you can be sure of receiving in return. In this respect, too, the partnership with Karman Connect is characterised by mutual openness and a remarkable willingness to share information about market trends and other relevant data. And this knowledge sharing has played a crucial role, especially with regard to the growth ambitions that drive both Adtraction and Karman Connect.
Our ambitions have always been high, and with Adtraction's listing in December 2021, our opportunities to achieve them have become even greater. In practice, this means that we have no intention of ceasing to expand once we are established in most Western European markets. Far from it. And I have every confidence that Karman Connect will be a strategically important partner throughout that journey.