8.6 C
New York
Thursday, January 26, 2023
Home News Klarna strikes again, buys Italian Moneymour

Klarna strikes again, buys Italian Moneymour

Klarna has acquired the Italian ‘pay now, buy later’ start-up Moneymour and established a new hub in Milan, from which Moneymour origins.

Moneymour enables consumers to pay for purchases in monthly based installments on an instant credit assessment that uses balance and transaction data from Open Banking feeds in the credit scoring algorithm.

Related: Pay later with Klarna! Retailers discuss future on Klarna’s platform

Koen Köppen, CTO at Klarna, says: “The talented team has developed an interesting offering for the Italian market, and with their knowledge and expertise we can further strengthen our underwriting capabilities in the market. Under the Klarna umbrella, we will together further develop the proposition and scale this across markets.”

Koen Köppen, says Klarna has been impressed by Moneymour’s achievements to date and Moneymour’s full team and operations will be integrated into Klarna. The transaction is expected to be completed in Q1 2020.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Tranch Secures $100 Million in Funding to Bring Payment Flexibility to B2B Market

The funding round was led by Soma Capital and FoundersX, and included participation from several US and UK fintech founders which also includes a credit facility from Clear Haven Capital Management.

Federal Prosecutors Seize $700 Million in Assets Connected to Sam Bankman-Fried

primarily in the form of Robinhood shares owned by the FTX founder, according to a court filing revealed on Friday.

How Much is a Bank Bonus Worth to You?

In today's competitive banking landscape, many financial institutions are offering cash bonuses to entice new customers to switch over.

Gen Z: The New Face of Banking

Generation Z is a unique and powerful generation that is shaping the way we think and bank.