AltFi.com uses cookies on this website. They help us to know a little bit about how you use our website, which improves the browsing experience and marketing - both for you and for others. They are stored locally on your device. By continuing to use this site you accept this use of cookies. Go to the Privacy and Cookies page for more information. You'll see this message only once.
Not signed in. Log in here.

Your daily download of all things alternative finance and fintech, from us at AltFi


 

Fintech bank Klarna scoops private equity investment




By Ryan Weeks on 21st July 2017


Permira said to have acquired a 10 per cent stake in the Swedish payments giant.

 

Private equity group Permira has acquired an equity stake in Klarna, one of Europe’s largest fintech players. A report in the Financial Times suggests that the group has bought a 10 per cent stake for approximately $250m.

 

Klarna was granted a banking licence by the Swedish regulator in June, and then laid claim to being one of Europe’s largest banks, serving over 70,000 merchants and 60 million consumers. Its core services revolve around online payment solutions, including pay after delivery and financing options. Its banking licence will allow it to broaden this product set for both merchants and consumers.

 

Permira advises funds and accounts worth around €32bn globally. The investment partnership advised by Permira has acquired shares in Klarna from existing shareholders General Atlantic, DST Global and Niklas Adalberth (a co-founder of the company), subject to the approval of the Swedish regulator (Finansinspektionen). Venture investors General Atlantic and DST Global will cease to be shareholders in the company, while Adalberth will retain an equity stake.

 

Sebastian Siemiatkowski (pictured), co-founder and CEO of Klarna, said that the investment was an exciting step in Klarna’s journey towards becoming “a consumer-oriented and technology intensive bank”.

 

Andrew Young, principal at Permira, also commented: “In Klarna we see a unique scale fintech innovator that has successfully improved shopping experiences for both merchants and consumers. We see many vectors that will drive future success and with Sebastian, we look forward to supporting the company’s future organic, geographic, and acquisition growth strategies.”

 

Comments


Enter your name:

Enter a comment in the box below: