The Klarna Checkout (KCO) division has been divested by Klarna, the AI-powered global payments network and purchasing assistant, in a strategic move. KCO will be acquired by a consortium of investors, managed by Kamjar Hajabdolahi, CEO and Founding Partner of BLQ Invest. KCO, established in 2012, revolutionized online purchasing in Northern Europe. It currently holds a market share of over 40% in Sweden and greater than 20% throughout the Nordic region. While KCO remains critical for merchants, Klarna's recent focus on world-class, flexible payment methods prompted this transaction. Klarna aims to concentrate on its core offerings while ensuring KCO's continued growth under new management.
Kamjar Hajabdolahi, known for his "Buy and Build" strategy, leads the buyer consortium, which includes Systematic Growth. The ambition is to build upon KCO's solid foundation, evolving the product to meet merchant needs and drive e-commerce's future. The acquisition process involved thorough engagement with prominent private equity and strategic buyers, guided by Deutsche Bank as the sole financial advisor. Klarna Checkout, launched in 2012 and optimized for conversion, is available globally and specifically tailored for Western and Northern European markets.
