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.
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.