/// Sweden’s Klarna Buys Germany’s SOFORT for $150 Million
Klarna, the Stockholm-based online payments company said it has bought Germany’s SOFORT for $150 million, With the acquisition, Klarna becomes one of the largest independent payments alternative in Europe. The company offers payment solutions — such as a one-click purchase option — for a wide range of online storefronts across Europe and did $200 million in revenue last year. It has 15 million users and 15,000 merchants in Sweden, Norway, Denmark, Finland, Germany, the Netherlands and Austria. But the purchase of SOFORT, which is a major player in Germany, gives Klarna a definitive dominance there. It has 25,000 online shops in Germany, as well as Austria, Switzerland, the Netherlands, Italy, Belgium, Poland and the UK. Klarna, which means “clear” in Swedish, has well-regard VC Mike Moritz of Sequoia Capital on its board, with $250 million in funding from the venture firm, as well as DST and General Atlantic.
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Sweden’s Klarna Buys Germany’s SOFORT for $150 Million