Klarna secures strategic investment from Chinese Ant Financial.

Sweden Investments 04 March 2020
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Klarna, a Stockholm, Sweden-based financial services provider, announced that it entered into a strategic investment deal with the Chinese company Ant Financial.

The deal was made for SEK 239.7 million ($25.6M) against 0.47% of the shares in Klarna.

Ant Financial Services Group, formerly known as Alipay, is an affiliate company of the Chinese Alibaba Group.

Klarna, founded in 2005 by CEO Sebastian Siemiatkowski, allows users to make online purchases with retail partners in four monthly installments with no fees or interest charges when they pay on time. The company has a customer base of 85 million consumers and works with 200,000 retailers and e-commerce platforms globally, including Alipay, H&M, IKEA, Adidas, Farfetch, Spotify, Samsung and Nike.

Klarna is one of the largest private fintech companies in the world.