Klarna to invest GBP 100 mln in UK for European expansion

Monday 16 June 2014 11:00 CET | News

Sweden-based online retail payments company Klarna has revealed plans to invest GBP 100 million in UK as it expands its European presence.

This is another attempt from Klarna to increase its European footprint, after December 2013, when the company purchased German payment systems provider Sofort for USD 150 million, giving it a 10% share of the ecommerce payments market in Northern Europe.

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.

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Keywords: Klarna, Europe, GBP 100 mln, UK, online payments
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce