Klarna Financial institution AB, a Swedish fintech firm in style in Europe, plans to embrace cryptocurrencies on its platform, the agency’s chief govt officer, Sebastian Siemiatkowski introduced in a put up on X over the weekend.
“I surrender. Klarna and me will embrace crypto! Extra to return,” he wrote to his 33,000 followers on the app.
Klarna is a well-liked “purchase now, pay later” app primarily utilized in Europe. The platform, which is valued at $14.8 billion in accordance with Investopedia, has over 85 million customers and 100 billion of quantity, Siemiatkowski stated.
The corporate has been round since 2005 and acquired backing by Sequoia Capital, a distinguished enterprise capitalist behind many fintech and crypto-focused firms, in 2010. Siemiatkowski stated he was launched to 3 entrepreneurs by an funding analyst on the VC which satisfied him to get into crypto.
Sequoia, which holds a 22% stake of Klarna, additionally backs Avalanche, Fireblocks, Stripe, and crypto alternate EDX Markets, amongst others.
Many different fintech companies have lengthy integrated crypto into their platforms, reminiscent of Robinhood, Venmo or Revolut. The latter two, for instance, have lengthy allowed customers to purchase, promote and maintain sure cryptocurrencies on the app.
“It nonetheless feels historic,” Siemiatkowski wrote. “Final massive fintech on the planet to embrace it. Somebody needed to be final.”
Siemiatkowski didn’t specify how precisely Klarna would incorporate cryptocurrencies into its enterprise mannequin. One consumer urged a “purchase crypto, pay later” possibility, which Siemiatkowski responded to saying “in all probability not.” Earlier at present, he stated whereas the corporate will take a look at all of the choices, it would take a while for it to have a plan in place.
