Stockholm, 24 June, 2024 – Klarna, the AI powered global payments network and shopping assistant, today announced the divestment of Klarna Checkout (KCO). The buyer is a consortium of investors led by Kamjar Hajabdolahi, CEO & Founding Partner at BLQ Invest. This strategic move will allow KCO to continue its evolution and enhancement as an industry-leading product under new ownership.
Klarna Checkout (KCO), launched in 2012, set a new standard for online shopping in Northern Europe. It remains a market leader with over 40% market share in Sweden and over 20% across the Nordics. While the Checkout solution continues to play a critical role for the merchants it serves, Klarna has over the past few years focused more on offering world-class, flexible payment methods in conjunction with multiple service providers. This transaction allows Klarna to concentrate on its world-class offering, while ensuring that the KCO business continues to grow under new dedicated management.
"Klarna Checkout is very dear to me, and the impact it’s had on Klarna's journey is immense. I'm so pleased it's finding a new home, with owners who are carefully handpicked to continue to create outstanding value for our merchant partners. I look forward to working closely with them as they establish the next phase for KCO", says Sebastian Siemiatkowski, CEO and co-founder of Klarna.
The buyer consortium is led by Kamjar Hajabdolahi, CEO of BLQ Invest, and includes Systematic Growth, founded by Ashkan Pouya, and serial entrepreneur Martin Randel. They focus on investing in and growing innovative Swedish companies. Hajabdolahi and his BLQ Invest are known for their "Buy and Build" strategy.
“We are thrilled to acquire Klarna Checkout and our ambition is to build on the solid foundation established by Klarna and take KCO to the next level, continuously evolving the product to meet the needs of our merchant partners and drive the future of e-commerce”, says Kamjar Hajabdolahi, CEO & Founding Partner at BLQ Invest. “We look forward to engaging with our merchant partners and presenting our plans and roadmap for the continued evolution of KCO.”
The buyers will officially assume ownership of Klarna Checkout on 1 of October. Both parties are focussed on a smooth transition and will continue to work together under a distribution partner agreement, meaning that Klarna’s popular payment methods will continue to be offered in the checkout.
The acquisition follows a thorough structured process where Deutsche Bank served as the sole financial advisor. To find the right future custodian for KCO, Klarna spent more than a year engaging with dozens of the most prominent private equity and potential strategic buyers in the world.
ABOUT KCO
- Launched in 2012
- 40% market share in Sweden and over 20% across the Nordics
- Available for global use and specifically localized for the western/northern countries of Europe
- Optimised UX for conversion