Payments fintech Klarna heading for $31bn valuation?
Originally cited in an by CNBC, sources apparently close to have stated that the $1bn of new funds could be finalised within days. Moreover, the capital is said to have been raised within only one week.
Klarna also scored another major milestone last year by reaching $1bn in annual revenue, raising the prospect of an imminent IPO. Sebastian Siemiatkowski, CEO, remained non-committal although he did not deny that the company was considering its options:
“Maybe it could happen this year, maybe it would be next year, but it’s obviously going to happen fairly soon. It’s definitely in the works but we haven’t officially started the process.”
The next generation of payments
Since 2005, Klarna’s mission has been to make online payments easier and faster. The COVID-19 pandemic and a worldwide shift in favour of e-commerce has placed it at the nexus of a digital payments revolution.
The company now has 90 million active customers and processes two million transactions every day through 250,000 merchants in 17 countries.
This expansion would see initial rollout in the Nordics, Germany, Austria and Switzerland, with merchants in the UK, Netherlands and Belgium also gaining seamless checkout and payment suite capabilities.
“We are excited to partner with Worldline and become a true growth partner for their merchants,” said Alex Marsh, Head of Klarna UK. “The last year has seen unprecedented change in retail with e-commerce becoming the increasingly dominant engagement channel for merchants across markets.
“Together with Worldline, we help merchants to adapt to that change and offer a better online shopping experience for consumers. Klarna’s payment solutions enable merchants to meet changing consumer demands, while ultimately unlocking growth, and driving customer satisfaction and loyalty.”
Image credit: Klarna
Tink partners with Novalnet AG for open banking payments
The Munich-based fintech Novalnet AG, which was founded in 2007 and is one of Europe’s leadingfintech companies, has announced a new partnership with Tink, the Swedish open banking platform currently connected to more than 3,400 European banks.
Novalnet AG delivers payment solutions and fully automated services, from checkout to debt collection. Its solutions are also available worldwide.
According to reports, the fintech company plans to launch a real-time payments feature for merchants across Europe, to expand its current services and enhance the transaction experience it operates through its platform.
The new feature, says Novalnet, will revolutionise payments for ecommerce with transactions being credited to merchant’s accounts almost instantly.
Novalnet partnership with Tink
By partnering with Tink for payment initiation services (PIS) technology, Novalnet will take previous region-specific payment methods and offer a new unified digital payments service to its merchants across Europe.
The fintech’s real-time merchant payments feature, which will be launched initially in Germany and the United Kingdom, will then be integrated across other European markets during 2021.
Speaking about the new collaboration, Emmanuel Kirse, COO of Novalnet, explained, "We expect great things from our strategic partnership with Tink, which is a significant development for both parties.
“With Tink, Novalnet can offer a new set of open banking-related solutions in Europe. The new opportunities offered by this partnership will help both Tink and Novalnet grow together, along with our merchants."
Cyrosch Kalateh, Regional Director for the DACH region at Tink said, “Our partnership with Novalnet is a big step for Tink in the German market, and we are excited to work together to bring new, innovative payments services to merchants across Europe.”
He added, “At the end of 2020 Tink committed to expanding its payment initiation services from five to 10 markets, fuelled by an €85mn investment round. We are proud to add Germany to this list by announcing we have now fully launched Tink’s PIS services in this market.”
Image credit: Novalnet AG