Klarna Publicizes Acquisition of Italian “Purchase Now, Pay Later” Startup Moneymour

Fee processing platform Klarna introduced on Wednesday it has acquired Moneymour, a purchase now, pay later funds platform primarily based in Italy. Based in 2017, Moneymour permits prospects to purchase now, pay later by splitting their purchases into month-to-month installments primarily based on an prompt credit score evaluation.

“The Moneymour credit score scoring engine is powered by PSD2, because it makes use of steadiness and transaction information within the credit score scoring algorithm. The know-how ensures an ever quicker and automatic credit score determination for shoppers as just a few clicks are needed, slightly than prolonged and paperwork heavy handbook processes.”

Talking concerning the acquisition, Koen Köppen, CTO at Klarna, acknowledged:

“We’re impressed with what the Moneymour staff has achieved to date, and we’re additionally pleased to now progress the institution of our new product improvement hub in Milan. The gifted staff has developed an fascinating providing for the Italian market, and with their data and experience we are able to additional strengthen our underwriting capabilities available in the market. Underneath the Klarna umbrella, we are going to collectively additional develop the proposition and scale this throughout markets, which is able to assist in accelerating development.”

Klarna went on so as to add that it’s now powering over 200,000 retailers globally together with Luxottica, Calzedonia, Alitalia, H&M, ASOS, Peloton, Abercrombie & Fitch and Samsung. Throughout 2020, Klarna will proceed its development momentum on present markets in addition to enter new markets, the place Australia is the newest market.