Klarna

  • Klarna gets a full banking license, gears up to go beyond financing payments

    Klarna gets a full banking license, gears up to go beyond financing payments

    After Anders Holch Povlsen and his firm Brightfolk bought up a stake of at least $225 million in Klarna earlier this month, today the profitable Swedish payments startup, now valued at over $2.25 billion, is stepping up its game. Klarna has announced that it has picked up a full banking license from Finansinspektionen, the Swedish Financial Supervisory Authority. The license will give… Read More

  • Fashion magnate takes $225M+ stake in Swedish payment unicorn Klarna

    Fashion magnate takes $225M+ stake in Swedish payment unicorn Klarna

    Payments startup Klarna is ramping up its valuation again as it picks up a new, strategic investor. Last valued at $2.25 billion in 2015, the company today announced that Brightfolk, controlled by fashion tycoon Anders Holch Povlsen, is becoming a “qualified owner” of Klarna — that is, buying up at least 10 percent of the company. Read More

  • Atomico closes on $765 million for its biggest fund yet

    Atomico closes on $765 million for its biggest fund yet

    Atomico has closed its fourth fund with $765 million, making it one of Europe’s single largest venture capital funds. The firm began raising the fund eleven months ago (we’d flagged it for you after searching the SEC filings). And while it represents a sizable step up from Atomico’s third fund, which closed with $476.6 million in 2013, its pace of fundraising highlights… Read More

  • Klarna buys BillPay, the PayPal of Germany, for $75M from Wonga

    Klarna buys BillPay, the PayPal of Germany, for $75M from Wonga

    Some chopping and changing is afoot in the world of payments in Europe. Today, Klarna, the startup out of Sweden that works with online merchants to enable flexible payment options, confirmed that it has acquired BillPay, a payments company based in Germany, from its previous owner Wonga, the startup that once achieved notoriety for predatory payday loans. The companies are not disclosing… Read More

  • The team behind Cookies is joining Klarna

    The team behind Cookies is joining Klarna

    All the work that went into creating peer-to-peer payment app Cookies isn’t disappearing forever. After filing for bankruptcy, Swedish tech company Klarna approached the team behind Cookies so that they can join another fintech company. The entire Cookies team except one co-founder is joining Klarna, as Klarna announced and t3n reported. I don’t think the two co-founders can… Read More

  • Klarna launches its first credit product with new U.S. partnerships

    Klarna launches its first credit product with new U.S. partnerships

    The online financing giant Klarna is continuing its rollout in the U.S. with a host of new partnerships and a new product so online shoppers in the U.S. and Europe  can actually take out loans from the company. It’s the next step for the Stockholm-based business as it continues on the road toward becoming a global financial player. Klarna already provides “try before you… Read More

  • Fintech dominates Nordic startup investments Crunch Network

    Fintech dominates Nordic startup investments

    Between January 1, 2014 and end of March 2016, 51 fintech investments were made in companies in Sweden, Finland, Norway, Denmark and Iceland, totaling $390.17 million. Read More

  • Klarna and Modo announce a new strategic partnership at Money20/20 Europe

    Klarna and Modo announce a new strategic partnership at Money20/20 Europe

    Unicorn eCommerce startup Klarna and digital payments startup Modo announced a new strategic partnership this morning at Money20/20 Europe. Under the terms of this new partnership Modo will provide Klarna with its Digital Payments Hub product to speed up implementation of Klarna’s checkout solution for their worldwide e-retail partners. Read More

  • Sweden Is A Tech Superstar From The North Crunch Network

    Sweden Is A Tech Superstar From The North

    While most of Europe has been mired in economic turmoil since 2008, Sweden has managed to stay afloat — and even accelerate its growth. The country and, especially, its capital, Stockholm, have outpaced other European nations with a mix of unique cultural traditions, visionary tech leaders, globally oriented startups and smart government policies. Read More