The Swedish online payments processor Klarna is pushing into the U.S., and it said late Wednesday that it intends to spend at least $100 million doing so.algorithmic risk assessment
This low-friction approach to the buy-now-pay-later game is particularly handy in the mobile payments arena, where the less you neeed to type the better.
The Sequoia-backed firm, which is almost a decade old, is the largest payments processor in Europe, and it has been talking about its U.S. move for a couple of months. Now, it has said how much it’s willing to invest in this push — it was always going to have to be a hefty wad — and it’s also said where it’s going to set up its U.S. headquarters: Columbus, Ohio.
“We want to set a new standard for how people shop with their mobile devices. Columbus is at the heart of U.S. e-commerce activity and is the perfect launch pad for our expansion,” Klarna North America CEO Brian Billingsley said in a statement.