Ant Financial: Acquires Minority Stake In Klarna
- Ant Financial has acquired a minority stake in the Swedish split payments FinTech Klarna for an undisclosed sum
- The stake amounts to less than 1 percent and made up of existing and new shares, Reuters reported, citing sources
- Then the acquisition deepens the strategic partnership between the two firms
- Klarna, Europe’s most valuable FinTech, founded in 2005 and has financial backers that include the rapper Snoop Dogg
- Other investors also include venture capital firm Sequoia Capital and Australia’s biggest bank, Commonwealth Bank of Australia
- Ant Financial is China’s biggest firm in the $27T Chinese payments market and is expanding into consumer lending
