Ant Financial Takes Stake in Klarna

Klarna is a well known fintech company in the buy now, pay later space; Ant Financial now has reportedly taken a less than 1% stake in the company though details of the actual investment amount weren’t shared; Klarna already works with Alibaba through AliExpress which offers Klarna’s service; CEO of Klarna, Sebastian Siemiatkowski stated, “At the heart of this cooperation between Klarna and Alipay is a shared ambition of innovating truly superior shopping experiences and creating destinations of inspiration for consumers across the world.” Klarna was also in the news recently after they reported their first ever annual loss as credit losses more than doubled in 2019. City A.M.

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