Klarna has finalized a deal to sell its online checkout service, Klarna Checkout (KCO), to a consortium of investors for SEK 5.4 billion ($515 million). Key points include:
- Consortium Details:
- Led by Kamjar Hajabdolahi, CEO and founding partner of BLQ Invest.
- Involves Ashkan Pouya, founder of Systematic Growth, and Martin Randel, co-founder of Vitamin Well AB.
- Deal Structure:
- SEK 2 billion for the business itself.
- SEK 3.4 billion in a revenue-sharing agreement.
- Ownership transfer to occur on October 1.
- Klarna’s Focus:
- Selected the consortium after a year of engaging with potential buyers.
- Aims for a smooth transition and will continue offering Klarna’s payment methods in the checkout.
- KCO Background:
- Debuted in Northern Europe in 2012.
- Handles the entire checkout process for stores.
- Holds a 40% market share in Sweden and over 20% across the Nordics.
- Strategic Benefits:
- Enables Klarna to concentrate on its core offering.
- Removes potential friction in distributing payment methods through other service providers like Stripe and Adyen.
- Ensures KCO continues to grow under new management.
- Statements:
- Klarna CEO Sebastian Siemiatkowski emphasizes KCO’s impact on Klarna’s journey.
- Hajabdolahi expresses intent to build on KCO’s established foundation to further its growth.
