Ant Financial takes stake in Klarna
Written by Peter Walker
Ant Financial, owner and operator of Chinese payments giant Alipay, has taken a minority stake in payments provider Klarna.
This investment supports further development of their strategic cooperation, bringing more of Klarna’s solutions to consumers and merchants within the broader Alibaba ecosystem.
A statement explained that it will also deepen ongoing collaborations between Klarna and Alipay, which currently enables shoppers at retail online marketplace AliExpress, to use the Pay later solution across multiple regions.
Klarna chief executive Sebastian Siemiątkowski said: “For too long consumers have had to endure non-intuitive, boring and overly complex services when shopping both online and offline – 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 now powers over 200,000 retailers and e-commerce platforms globally, including AliExpress, H&M, ASOS, Expedia, IKEA, Farfetch, Adidas, Spotify, Samsung and Nike. In 2019, the Swedish business added over 75,000 new merchants.
During 2020, the company plans to enter new markets, recently launching the Klarna app in Australia.