Klarna purchases Sofort for USD 150 mln

Wednesday 18 December 2013 00:25 CET | News

Sweden-based online retail payments company Klarna has purchased German payment systems provider Sofort for USD 150 million.

The two companies are expected to account for 10% market share of the European e-commerce market. Klarna has revealed plans to operate both companies’ products separately.

Klarna offers payment solutions such as a one-click purchase option for a range of online storefronts across Europe and did USD 200 million in revenue in 2013. It has 15 million users and 15,000 merchants in Sweden, Norway, Denmark, Finland, Germany, the Netherlands and Austria. The company has raised USD 250 million in funding from investors including Sequoia Capital, DST and General Atlantic.

Sofort has 25,000 online shops in Germany, as well as Austria, Switzerland, the Netherlands, Italy, Belgium, Poland and UK.

Other financial terms of the deal have not been disclosed yet and the transaction is still subject to approval by Sweden’s Financial Supervisory Authority.

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Keywords: Klarna, Sofort, online payments, Germany, Sweden, e-commerce
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce