Swedish based payment service provider Klarna has completed the process of acquiring German payment solution SOFORT.
We first posted the news of Klarna taking control of SOFORT back in December. The completion of the acquisition points to all conditions precedent for the closing has been fulfilled.
“We are excited to complete this acquisition and look forward to working together with SOFORT’s talented team. The Klarna Group will shape the future of online and mobile payments. Together we can accelerate growth and continue our journey toward being the world’s favorite way to buy,” said Sebastian Siemiatkowski, co-founder and CEO of Klarna.
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Previously it was stated the firms would continue to work independently from one another. Now, as the process has been completed, Klarna mentioned in a press release the 2 firms will form a larger entity and will be known as “Klarna Group”.
Klarna was established in 2005, with the premise of offering simpler and safer payment solutions. They offer pay-by-invoice solutions and risk monitoring and assessment services. Klarna serves over 18,000 online shops in Sweden, Norway, Denmark, Finland, Germany, Austria and the Netherlands.
SOFORT has offered innovative products for secure payments of merchandise and digital goods for online stores. SOFORT provides its services to over 25,000 merchants and processes over 2.5 million transactions a month. The company offers support to Germany, Austria, Switzerland, Belgium, France, the Netherlands, the UK, Italy, Spain and Poland.
Klarna Group has over 25 million registered users and holds over 10% the of the Northern European market and processes over $10 billion a year.