Ant Financial moves into fintech with small stake in Klarna
The financial services affiliate of Alibaba Group will buy about a 1% stake in the Swedish payments firm as it expands into consumer lending
04 March 2020 - 17:40
Hong Kong — Ant Financial, the financial services affiliate of Alibaba Group Holding, has agreed to buy a minority stake in Klarna, and will expand its international partnership with the Swedish payments firm.
Ant, which owns payments platform Alipay, plans to expand current collaborations, such as the AliExpress partnership that lets Alibaba users access Klarna’s “pay later” service, the companies said in a statement on Wednesday...
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