Swedish fintech giant Klarna acquires German startup Stocard for about €110 million

The Swedish fintech giant Klarna seems to be on an acquisition sprint. After acquiring UK-based HERO earlier this month, Klarna now bought the Mannheim-based fintech startup Stocard. According to our sources, the acquisition deal values Stocard at about €110 million.

Founded in 2011, Stocard offers its 60 million users worldwide a bundling of customer cards in an app which also provides attractive discounts. An integrated mobile payment feature is also part of the Stocard offering. Last year, Stocard launched its mobile wallet also in the UK.

Stocard’s list of investors included Engelhorn, Alstin, and High-Tech Gründerfonds. In total, the German fintech company raised about $31 million.

Klarna, which is headquartered in Stockholm, is currently valued at over $45 billion and is used by 90 million customers. The European fintech giant was founded in 2005 and closed another huge financing round of €547 million in September 2020.

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Source: Swedish fintech giant Klarna acquires German startup Stocard for about €110 million | EU-Startups