The private equity firm, Permira, has invested in at least 10% of Swedish payment startup, Klarna. The move is the most recent for banking investors looking to grasp a piece of the growing market of mobile and phone payments.
Permira is a global firm that advises accounts with a portfolio of approximatly 32 million euros. They specialized in long-term investments and see the growth of Klarna, which now serves 60 million consumers and 70,000 merchants, as an opportunity to invest in a fintech operation with a promising future and an attractive present.
“In Klarna we see a unique scale fintech innovator that has successfully improved shopping experiences for both merchants and consumers. We see many vectors that will drive future success and with Sebastian, we look forward to supporting the company’s future organic, geographic, and acquisition growth strategies,” said Andrew Young, principal at Palmira.
The “organic, geographic and acquisition growth strategies” can only referred to as the attractive European market, the natural next step for Klarna with the support and knowledge of Palmira, its new qualified owner.
Palmira bought Klarna shares from existing shareholders General Atlantic and DST Global, as well from the Sweden-based firm’s co-founder Niklas Adalberth, who will retain equity stake, per Reuters report
Klarna received a full banking license from the Swedish Financial Supervisory Authority just last June, and has seen a 50% growth in registered transactions from 2016.