Polish e-commerce marketplace Allegro is a role model for many. It’s not only Europe's largest e-commerce platform by website visits and the biggest marketplace of European origin, but it also uses Embedded Finance to further grow its transaction volume.
The company offers a B2C marketplace with over 21 million active buyers and a B2B marketplace with over 160,000 merchants. The primary market remains Poland, but the company has also expanded to other Eastern European countries (e.g., the Czech Republic, Slovakia & Hungary).
Allegro Pay is a payment and financing solution enabling consumers to defer payments for 30 days or split the purchase into instalments for up to 20 months. Allegro Pay is also available on its B2B marketplace and offers merchants a similar service, although with slightly different timing options.
This week, I went through press releases and investor reports to understand the volume of Allegro’s Embedded Finance exposure (Allegro):
- 52% of loans originated by Allegro Pay increased their marketplace transactions (Q4 2024)
- Allegro Pay achieved loan origination similar to leading Polish banks (Q4 2024; excl. mortgages)
- Allegro Pay funds 15.3% of GMV in Q2, with loans originated at PLN 3.3 billion (Q2 2025)
- Excellent customer satisfaction reflected in NPS score of 94 (Q2 2025)
- Loans originated generated PLN 135 million in interest, fees and profits on sale to funding partners for Allegro Pay (28% annualised return; Q4 2024)
The most significant new development happened in September 2024, when Allegro teamed up with Visa to launch a payment card that made Allegro Pay features available outside of its own marketplace (Allegro).
As you can see, Allegro has substantial exposure to Embedded Finance, using it not only to create new revenue but also to grow their marketplace. Each investor presentation of the past few years has had a slide about Medium-term strategic priorities. What’s a recurring point on the slide? Building new engines through seamless fintech solutions.
