Klarna gets strategic investment from Visa as it positions as a regional bank in the Nordics.

Klarna, a Stockholm, Sweden-based company providing online payments announced entering into an investment agreement with Visa. The deal was made for SEK 175M ($20M) and includes also small participation from Gullspång Invest.

The equity investment and planned partnership demonstrate Visa and Klarna’s shared vision to accelerate online and mobile commerce for the benefit of consumers and merchants across Europe.

Visa’s planned investment is part of a global strategy to open up the Visa ecosystem and support a broad range of new partners who are helping to redefine and enhance the purchase experience for millions of consumers globally. Klarna develops products that address changing consumer preferences, giving them the flexibility and seamless experience they expect when shopping.

Klarna, found in 2005 and led by CEO and founder Sebastian Siemiatkowski, is one of Europe’s fastest growing online payments companies, serving 60 million consumers and 70,000 retailers.