Klarna's checkout service has been sold in a billion-deal and will be rebranded as Kustom. The acquisition, led by entrepreneur Kamjar Hajabdolahi, was largely financed through newly issued bonds worth approximately 1.7 billion kronor.
The newly named Kustom plans to launch a fresh service within the next three to six months, aimed at providing enhanced payment and shipping options.
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Jesper Eriksson, Kustom's sales manager and former Sweden chief at Klarna, stated that the new company has secured a strategic partnership with payment giant Stripe, upon which its checkout solution will be built. While Klarna holds no stake in Kustom, their collaboration will remain strong, with a cooperation agreement ensuring Klarna's continued involvement in Kustom's offerings.
Klarna Checkout, launched in 2012, was pivotal to Klarna's initial business model, capturing a 40% market share in Sweden. Since then, Klarna has shifted focus to offer a broader range of payment solutions. This sale marks a significant transition for both Klarna and the newly formed Kustom as they adapt to changing market needs.
Source: www.dagenshandel.se