Home > Industry > Finance > CBA Triples Stake In Klarna

CBA Triples Stake In Klarna

In a bid to head off encroaching fintech companies like Afterpay and Zip, the Commonwealth Bank has invested in Swedish company Klarna in Australia, increasing its equity stake to US$300 million.

The move will take CBA’s stake in the 15 year-old company to 5.5 percent, with equity in the local venture being 50 percent split.

CBA customers can access Klarna via the CBA app, but the service is also being made available to non-CBA customers with the hope that they will migrate to the banking giant.

You may also like
Ticketek Joins Up With Afterpay For Expected Post Covid-19 Rush
Shares Climb As Afterpay Reports Finds More Customers In The USA
Afterpay Surges 24pc Following Stake Sale To China’s Tencent
Is Chinese WeChat A Threat To Afterpay Security?
Afterpay Tightens Spending Limits, But Profits Continue To Climb