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Alipay owner Ant Financial takes minority stake in Klarna

Some big moves in the payments platform space: Ant Financial Group, the owner of China’s Alipay payment platform has announced it’s taking a minority stake in Swedish payments platform Klarna — which has a strong European presence and a flagship product that lets shoppers buy now and pay later in interest-free instalments (typically 14 or 30 days after the purchase).
The pair have not disclosed terms of the deal but Reuters reported the stake amounts to less than 1% and was made up of existing and new shares. It also cites its source telling it the stake was done at a “slight uptick” to Klarna’s $460 million funding round last August — which valued the company at $5.5BN.
A spokeswomen for Klarna told us it’s not disclosing the value of the investment but she confirmed Reuters reporting, saying the stake is less than 1%.
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