Swedish Payments Giant Klarna acquires Sofort, Deal Valued at around $150 Million

German payment (gateways) market leader Sofort has been acquired by Swedish rival payments firm, Klarna for a sum of around $150 Million according to Techcrunch. According to Klarna, the combined entity would be able to tap into the European $100 Billion e-commerce market with their payment systems. With this combination, the two companies will have over 25 Million users and partnerships with more than 50% of Germany’s online merchants.

Klarna was co-founded in February 2005 by Sebastian Siemiatkowski (CEO), Victor Jacobsson and Niklas Adalberth (Deputy CEO). The company has raised an astounding $250 Mn through investors including Sequoia Capital, Jane Walerud, Investment AB, General Atlantic, Digital Sky Technologies and QED Investors.

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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