Klarna Sells Klarna Checkout to BLQ Invest-led Group of Investors

Klarna, a leading online payment solutions provider, has announced the sale of its popular online checkout solution, Klarna Checkout (KCO), to a group of investors led by BLQ Invest CEO and founding partner Kamjar Hajabdolahi. The transfer of ownership is set to take place on October 1, with Klarna’s payment methods continuing to be offered in the checkout process.

The decision to sell KCO comes as Klarna aims to focus on its flexible payment methods, which are offered in collaboration with multiple service providers. By divesting itself of KCO, Klarna hopes to eliminate competition and friction with payment service providers (PSPs) and allow KCO to flourish under new ownership.

In a press release, Klarna CEO Sebastian Siemiatkowski expressed his satisfaction with the sale, stating, “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.” The new owners, led by Hajabdolahi, are known for their “Buy and Build” strategy and have ambitious plans to further develop KCO and meet the evolving needs of merchant partners.

KCO, launched in 2012 in Northern Europe, has since gained significant market share, with a 40% share in Sweden and 20% across the Nordics. The platform is designed for global use and boasts a user experience tailored for high conversion rates.

This strategic move by Klarna comes on the heels of accelerated revenue growth reported in May, with a 29% increase in total revenue during the first quarter. With new dedicated management at the helm, KCO is poised for further growth and innovation in the eCommerce space.