Swedish fintech Klarna buys German startup Cookies after bankruptcy

Swedish fintech Klarna buys German startup Cookies after bankruptcy

Swedish payment service provider Klarna has agreed to take on the team behind the insolvent Berlin fintech startup Cookies.

The Cookies app, founded by former N26 employees Garry Krugljakow and Lamine Cheloufi, aimed to simplify mobile money transfers and was once one of the most hyped up-and-coming German fintech companies.

However, management in-fighting led Krugljakow to withhold his consent for raising needed outside funds. Cheloufi expressed his frustration in a blog post: “A distorted relationship is no justification for blocking financing that would ensure the survival of a company and the jobs of the people working there.”

 

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Source: Swedish fintech Klarna buys German startup Cookies after bankruptcy – Business Insider

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