Corestar Partners advises Klarna AB and its shareholders on the acquisition of Sofort AG

Corestar Partners is pleased to announce that it acted as exclusive financial advisor to Klarna AB and its shareholders (“Klarna”) on the acquisition of Sofort AG (“Sofort”) to become the leading European payments provider and rival to US groups such as PayPal, Visa and MasterCard.
Klarna is one of Europe’s leading providers of payment solutions for e-commerce. Klarna separates buying from paying by allowing buyers to pay for ordered goods after receiving them, providing them with a safe after delivery payment solution. At the same time, Klarna assumes all credit and fraud risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna’s vision is to enable trust and to offer a frictionless buying experience to buyers and sellers across the world.
Founded in 2005, Sofort is a leading provider of online banking ePayments in Europe, employing 131 employees in six offices. The company’s payment solution allows customers to pay online and transfer money directly through their bank account to the bank account of the merchant. More than 12 million online shoppers have used the company’s services at more than 25k registered merchants across Europe.
Klarna and Sofort combined will have a 10 percent share of the USD 100 billion e-commerce market in which they operate. Klarna is a leading online payment provider in the Nordic countries, and Sofort is a leading player in Germany and Austria. Together they will offer their solutions in 14 European countries. The combined group will have 25 million users and partnerships with more than 50 percent of all German online merchants. In total, the group will work together with 43,000 online merchants.
This transaction demonstrates Corestar Partners’ deep expertise in advising companies in the payment service and e-commerce sector, combining Corestar’s unmatched industry network with its unique industry knowledge.