Klarna sells Klarna Checkout – silicon channels

Stockholm-based Klarna, a global AI-powered payments network and shopping assistant, announced on Monday the sale of Klarna Checkout (KCO).

The company says this strategic move will allow KCO “to continue to grow and improve as an industry-leading product under new leadership.”

“Klarna Checkout is very dear to me and the impact it has had on Klarna’s journey is enormous. I am so pleased that it has found a new home, with owners who are carefully selected to continue to create exceptional value for our retail partners. I look forward to working closely with them as they establish the next phase for KCO,” says Sebastian Siemiatkowski, CEO and co-founder of Klarna.

The announcement comes five months after the company released its OpenAI-powered AI assistant. The in-app assistant aims to streamline customers’ shopping and payment experiences.

Buyer

A consortium of investors led by serial entrepreneur Kamjar Hajabdolahi has reached an agreement to buy Checkout in a deal valued at 5.4 billion crowns ($520 million), Bloomberg News reports.

According to the information obtained, financing for the transaction will consist of CZK 336 million in equity and CZK 1.7 billion in debt. In addition, it includes performance-based payment and a revenue-sharing agreement with Klarna.

The buyer consortium also includes Systematic Growth, a company founded by Ashkan Pouya, and serial entrepreneur Martin Randel.

They focus on investing in innovative Swedish companies and growing them. Hajabdolahi and his BLQ Invest are known for their “Buy and Build” strategy.

“We are excited about the acquisition of Klarna Checkout and our ambition is to build on the solid foundation created by Klarna and take KCO to the next level, continuously developing the product to meet the needs of our retail partners and shaping the future of e-commerce,” says Kamjar Hajabdolahi, CEO and Partner founder at BLQ Invest.

“We look forward to working with our commercial partners and presenting our plans and plan for the further development of KCO,” adds Hajabdolahi.

The buyers will acquire Klarna Checkout on October 1, ensuring a smooth transition and retaining Klarna payment methods. Deutsche Bank was the exclusive financial advisor during the acquisition process, which involved contacting a number of potential buyers over the course of the year.

Klarna Checkout

Launched in 2012, Klarna Checkout is a comprehensive, on-site checkout module that covers all popular payment methods.

It has a market share of over 40 percent in Sweden and over 20 percent in the Nordic countries.

While Checkout continues to play a key role for the merchants it supports, Klarna is increasingly focused on offering world-class flexible payment methods across multiple service providers.

Klarna: global provider of payment solutions

Founded in 2005 by Niklas Adalberth, Sebastian Siemiatkowski and Victor Jacobsson, Klarna is an e-commerce payment solutions platform for sellers and buyers.

The most famous of its Buy Now, Pay Later products, the company’s instant direct debit option, Pay Now, has been rolled out across all European markets and accounts for approximately one third of all transactions.

This means that consumers can now choose whether they want to pay the entire amount immediately or pay it in installments – all without interest.

It is seamlessly integrated into the checkout process when customers choose Klarna as their payment method at participating retailers.