1. News
December 7, 2021

Klarna and Marqeta expand payment tech partnership in Europe

Marqeta previously supported Klarna’s expansion in the US and Asia-Pacific.

Swedish financial technology firm Klarna has expanded its partnership with card issuing platform Marqeta into 13 new European markets.

The two companies will begin offering their services in the UK, Germany, France, Italy, Spain, the Netherlands, Poland, Belgium, Austria, Ireland, Norway, Finland and Denmark.

Klarna and Marqeta started expanding their partnership in May when they launched Klarna’s shopping app in the UK.

In September, the partners further expanded to 12 additional markets, with Marqeta supporting Klarna’s single-use virtual cards in each of them.

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.”

In 2018, Klarna started using Marqeta’s card issuing platform in the US to power its single-use virtual cards in its mobile shopping app for any purchase.

Marqeta also supported Klarna’s launch in Australia last year and its recent expansion into the New Zealand market.

Marqeta founder and CEO Jason Gardner said: “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.”

In July, Klarna purchased social shopping platform HERO in an effort to enhance its in-store experience for consumers.

HERO provides advice and instant shoppable content using data from retailers’ physical stores, with the aim of offering more personal and convenient shopping experiences.