Global law firm White & Case LLP has advised Klarna, one of the world's leading smooth shopping and payment providers, on the acquisition of Moneymour Srl, an Italian payment company, from the founders and minority investors.
Klarna is now one of Europe's largest banks and is providing payment solutions for 85 million consumers across 205,000 merchants in 17 countries. Klarna offers direct payments, pay after delivery options and instalment plans in a smooth one-click purchase experience that lets consumers pay when and how they prefer to.
Founded in 2017, Moneymour provides a payment method that allows consumers to "buy now and pay later", by splitting their purchases into monthly instalments on the basis of an instant credit assessment. The Moneymour credit scoring engine is based on PSD2, as it uses balance and transaction data in the credit scoring algorithm.
The White & Case team which advised on the transaction was led by partners Magnus Wennerhorn and Martin Järvengren (both Stockholm) and local partner Alessandro Seganfreddo (Milan), with support from associates Marcus Halling (Stockholm) and Giulia Fiorelli (Milan).
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