The payment service company Klarna is selling its checkout solution Klarna Checkout to a group of Swedish investors.
The business is valued at 3.4 billion kronor, writes Breakit.
The service was launched in 2012 and has a market share of over 40 per cent in Sweden and over 20 per cent in the Nordic region, according to a press release from Klarna.
Klarna is focusing increasingly on payment methods rather than checkout solutions, and has shifted to collaborating with payment service providers.
"Klarna Checkout is very close to my heart and has had an enormous significance for Klarna's journey. I am so pleased that it has found a new home, with owners who are carefully handpicked to continue creating outstanding value for our merchant partners," says Klarna's CEO Sebastian Siemiatkowski in the press release.
The buyers will take over ownership on 1 October. The parties will continue to work together under a distribution partnership agreement.
The investors are led by Kamjar Hajabdolahi, CEO of BLQ Invest. The consortium also includes entrepreneurs Ashkan Pouya and Martin Randel.
