Klarna pays €110 million for Germany's Stocard.

Klarna, a Stockholm, Sweden-based financial service company, announced that it acquired a German company called Stocard.

According to German media sources, the deal was made for €110 million ($130M).

The two German managing directors Björn Goß and David Handlos, will join Klarna's top management.

Stocard, based in Mannheim, was founded in 2011 by David Handlos, Björn Goß and Florian Barth and developed an easy-to-use app allows users to turn their smartphone into a mobile wallet and brands to connect with customers to drive them to stores.

It has around 60 million users in Germany, UK, the Netherlands, Belgium, France, Italy, Austria, Switzerland, Australia and Canada. The company has raised about $30 million and was backed by investors including Macquarie Capital, Alstin, Rocketship and HTGF.

This is the second notable acquisition for Klarna in 2021, after acquiring Toplooks from the USA and Hero Towers from the UK for $160 million. Also this year, Klarna raised about $1.6 billion in two rounds, one in March and the other in June.