Klarna has announced the sale of its Klarna Checkout unit to a consortium led by Kamjar Hajabdolahi, CEO & Founding Partner at BLQ Invest.
This strategic move is set to propel KCO into its next growth phase under new management while allowing Klarna to sharpen its focus on its core offerings of flexible payment methods across various service platforms.
Since its inception in 2012, KCO has revolutionised online shopping in Northern Europe, commanding a dominant position with over 40% market share in Sweden and substantial influence across the Nordics. The divestiture of KCO marks a pivotal shift in Klarna’s business strategy, which in recent years has increasingly concentrated on enhancing and expanding its flexible payment solutions rather than managing a checkout service.
Sebastian Siemiatkowski, CEO and co-founder of Klarna, expressed a deep personal connection to KCO and satisfaction with the transition, “Klarna Checkout is very dear to me, and the impact it’s had on Klarna’s journey is immense. 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. I look forward to working closely with them as they establish the next phase for KCO.”
The consortium acquiring KCO includes notable investors like Systematic Growth and entrepreneur Martin Randel, known for their strategic investments in innovative Swedish companies. This group, spearheaded by Hajabdolahi’s BLQ Invest, is expected to further develop KCO’s capabilities to meet evolving e-commerce demands.
Kamjar Hajabdolahi shared his enthusiasm about the acquisition, “We are thrilled to acquire Klarna Checkout and our ambition is to build on the solid foundation established by Klarna and take KCO to the next level, continuously evolving the product to meet the needs of our merchant partners and drive the future of e-commerce.”
The transition will officially take place on October 1, with both Klarna and the new owners committed to a seamless handover and continued collaboration through a distribution partner agreement. This agreement ensures that Klarna’s renowned payment methods will still be available in the checkout service, maintaining continuity for merchants and consumers alike.
The acquisition was facilitated by Deutsche Bank, which acted as the sole financial advisor, highlighting the structured and extensive engagement process undertaken by Klarna to identify the ideal custodian for KCO.
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