Klarna Bank AB sells Checkout unit to Kamjar Hajabdolahi-led consortium for $520M, focusing on ties with payment service providers.
Klarna Bank AB sells Checkout unit to a consortium led by entrepreneur Kamjar Hajabdolahi for $520 million. The deal will help Klarna remove conflicts of interest with payment service providers like Adyen NV and Stripe Inc., as it seeks to focus more on building ties with these PSPs. The Checkout business, which holds a 40% market share in Sweden and is a major profit driver in Europe, will become a standalone entity on October 1.
June 24, 2024
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