The swedish BNPL company has signed a multi-year agreement with a subsidiary of funds advised by London-based Elliott Advisors (UK) Limited to sell “substantially all of Klarna’s short-term, interest-free product receivables in the UK”. In a statement released this week, Klarna confirmed that upon completion of the deal, it will still own “all consumer-facing activities, including underwriting and servicing”.
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Klarna sells UK loan portfolio to hedge fund Elliott Advisors in £30b deal
According to Klarna’s CFO, Niclas Neglén, the agreement aligns with the company’s “global growth” strategy and enables the firm to “deploy shareholder equity more effectively” by freeing up an estimated £30 billion in funds.
