Marqeta widens European presence through expanded Klarna partnership

Klarna has entered 13 new European markets after it expanded its alliance with card issuer Marqeta.  

The extended partnership will mean Klarna’s services will now be available in the UK, Germany, France, Italy, Spain, Netherlands, Ireland, Poland, Belgium, Finland, Austria, Denmark and Norway.

This expansion began earlier this year when Klarna’s UK shopping app was launched in May. In September, the payments giant expanded into the 12 other markets.

Klarna originally began using Marqeta’s card issuing platform in the US back in 2018, in order to power its one-time virtual card in its mobile shopping app used to complete any purchase. Marqeta also backed Klarna’s Australia launch last year as well as its expansion into the New Zealand market.

According to Marqeta, Klarna uses its Just-in-Time Funding feature in order to give it control over the full transaction flow.

Klarna chief technology officer Koen Kӧppen said, “Klarna has seen significant growth of our consumer base in the past years, most especially in the US and partners like Marqeta support this trajectory. Marqeta’s tech platform has helped us quickly realise new or improved products in complex markets. We’re happy to now work with Marqeta in Europe to further leverage this expertise as we develop our offering.”

Marqeta CEO and founder Jason Gardner added, “Marqeta’s partnership with Klarna is an incredible example of what our modern card issuing platform can support, helping them stand up and scale new payments experiences across three continents now. We’re proud to enable such an innovative company in Klarna and are excited that they’ve shown this trust in our partnership to take on so much of their European business.”

Klarna recently launched a Money Talks card game to encourage meaningful conversations around spending, saving, and shopping.

Copyright © 2021 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.