The companies are not disclosing the value of of the deal, but according to techcrunch.com the price could be at around GBP 60 million (USD 75 million).
Klarna is looking to build out a stronger presence across Europe in payments. This is Klarna’s third acquisition (it acquired and hired the team behind peer-to-peer payments app Cookies in October 2016; and it acquired Sofort in 2013 for USD 150 million). In fact, the acquisitions Klarna has made over the years have been in Germany.
Wonga is retreating from a business model based on loans to payments, its original intention when it acquired BillPay in 2013.
Klarna has raised to date around USD 291 million with backers including several VC biggies: Atomico, DST, General Atlantic, IVP, QED and Sequoia.
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