Bonnier Growth Media is increasing its stake to 49 percent in Refunder.se, Sweden’s leading cashback site.

Refunder has shown strong signs of growth since it launched in late 2013. The number of online purchases among Refunder’s members are increasing by 35 percent month-over-month, and the number of members passed 50,000 in December.

“In general, the value of a Refunder member’s shopping cart is 30 percent more compared to that of an average e-commerce consumer,” says Fredrik Ohlsson, CEO and co-founder of Refunder. “Also, our members shop twice as often online.”

Refunder currently has a network of 260 online stores in fashion, sports & leisure, beauty & health, and travel, among other areas.

“Over 90 percent of the reviewers on consumer site Trustpilot.se give Refunder top marks, which is an important sign of quality as we continuously develop our product offering and range,” says Ohlsson.

“We invest in scalable digital companies in areas of growth, and place particular emphasis on the entrepreneurial team in the driver’s seat,” says Ulrika Saxon, CEO of Bonnier Growth Media and Chairman of the Board for Refunder. “We are very pleased to increase our stake and, together with the dedicated and pro-active team at Refunder, further invest in the company’s future and growth.”

With Bonnier Growth Media’s increased stake at 49 percent, the remainder is owned by the founders. In addition to fueling further expansion in Sweden, Refunder is also looking at the possibility of establishing the company in new markets.