The two most expensive fintech startups in Europe and the United States have announced a partnership. Retailers using Stripe will now be able to accept payments from customers using Klarna.
256% — current profitability of Global Technologies Private Portfolio fund clients, who acquired Klarna shares in December 2020, with company valuation of $12,8 billion. The company’s valuation today is more than $45.6 billion.
The services will work together in 18 EU countries, the UK and the US. This will give Klarna access to Stripe’s multi-million audience in these countries.
In turn, the payment service will be able to increase the volume of payments passing through it. Beta results showed that the Klarna integration resulted in a 27% increase in sales for Stripe partner retailers.
The companies have also agreed that Stripe will become Klarna’s premier payment partner in the US and Canada.