V
end, a leading online marketplace operator in Scandinavia, has reported strong progress in its pivot towards verticalised classifieds. The company's real estate segment stood out in an otherwise mixed Q2 update, with total revenues of NOK 1,694 million for the quarter, down 1% year-on-year.

    Real Estate revenue climbed 1% organically, driven by a new "smart floor plan" feature that allows users to interact with property layouts. Vend's CEO, Christian Printzell Halvorsen, highlighted strong strategic momentum, with average revenue per ad increasing across all verticals and transactional revenues continuing to grow solidly.

    Vend operates several leading online marketplaces in Scandinavia, including FINN, its flagship Norwegian generalist marketplace. The company has plans to expand its more transactional business lines and has already launched Qasa, a rentals marketplace in Sweden, into Norway. As part of its simplification strategy, Vend completed the sale of its jobs platforms in Sweden and Finland during the quarter.

    Advertising revenues fell 40% year-on-year due to the planned decoupling from the Schibsted network. However, Vend booked €336 million in proceeds from a debt refinancing deal with Adevinta, which will help strengthen its balance sheet and support investments in product development and strategic growth initiatives.

    Looking ahead, Vend aims for full-year growth of 12-17% for its real estate business, with an EBITDA margin target of 45-50%. The company will continue to focus on building vertical-specific marketplaces backed by strong tech and user engagement.