Payment processing platform Klarna announced on Wednesday it has acquired Moneymour, a buy now, pay later payments platform based in Italy. Founded in 2017, Moneymour allows customers to buy now, pay later by splitting their purchases into monthly installments based on an instant credit assessment.
“The Moneymour credit scoring engine is powered by PSD2, as it uses balance and transaction data in the credit scoring algorithm. The technology ensures an ever faster and automated credit decision for consumers as only a few clicks are necessary, rather than lengthy and paperwork heavy manual processes.”
Speaking about the acquisition, Koen Köppen, CTO at Klarna, stated:
“We’re impressed with what the Moneymour team has achieved so far, and we are also happy to now progress the establishment of our new product development hub in Milan. The talented team has developed an interesting offering for the Italian market, and with their knowledge and expertise we can further strengthen our underwriting capabilities in the market. Under the Klarna umbrella, we will together further develop the proposition and scale this across markets, which will support in accelerating growth.”
Klarna went on to add that it is now powering over 200,000 retailers globally including Luxottica, Calzedonia, Alitalia, H&M, ASOS, Peloton, Abercrombie & Fitch and Samsung. During 2020, Klarna will continue its growth momentum on current markets as well as enter new markets, where Australia is the most recent market.
