Alternative LendingDigital Banking
Stocard has amassed over 60m users worldwide since it was founded in 2011.
Image source: David Handlos, Florian Barth and Björn Goß/Stocard
Much like its customers, it seems that Klarna is also on a bit of a shopping spree.
The buy-now-pay-later behemoth has allegedly bagged German digital wallet fintech Stocard for around €110m (some reports have the price tag as high as €113m), first reported by FinanceFwd.
Stocard’s hefty price tag will help line the pockets of co-founders Björn Goß, David Handlos and Florian Barth, who collectively owned roughly a quarter of the company.
Founded in 2011 as an all-your-loyalty-cards in one app solution, Stocard has amassed over 60m customers worldwide, 3m of which are in the UK after the fintech touched down here in June 2020.
As one of the first digital wallets on the scene, Stocard revealed that it was looking into introducing a buy-now-pay-later product, similar to that of Klarna, perhaps this is what first caught the BNPL fintech’s eye.
Fresh off the back of a $639m SoftBank-backed funding round, Klarna clearly has cash to splash.
Just two weeks ago, Klarna bought social shopping platform Hero for an undisclosed amount, enabling in-store teams of its 250,000 retail partners to become content creators instantly, providing reviews and real-time advice to bring the best of in-store shopping to online customers.
Klarna now operates in 17 markets, with several launches coming up this year including France just last month.
AltFi has asked Klarna to comment but is yet to hear back.