Nordic Banks funnel millions of euros into disposable fashion site
27 jan. 2025
09:38
Nordic banks SEB, Nordea and Handelsbanken have come under fire for investing millions of euros into the parent company for the controversial e-commerce site Temu. The cashflow emerged following a Swedish investigation.
Chinese e-commerce platforms Shein and Temu are currently facing heavy criticism in the Nordics, with Sweden’s government even raising the prospect of changing the law to stop imports of clothes and other goods from the companies.
Now, Swedish tabloid Aftonbladet has revealed that several Nordic banking giants have jointly invested over a billion kronor in Temu's parent company, PDD Holdings.