In 2005, three young tech hopefuls took part in the Stockholm School of Economics Annual Entrepreneurship Awards with an idea to provide consumers and merchants with a safer and simpler way to pay for online shopping. They didn’t win any accolades and in fact came in among the last in the competition. Undeterred, the three venture on and created Klarna, advancing to one of the largest payment processors in Northern Europe with 10% of all online transactions being made via their payment channels. Further expansion is planned in the USA and beyond.
The humble beginnings turned out to be a blessing in disguise as it gave the young company the time to grow organically while developing the payment tools needed to sustain in our fast-moving online world. Their mission however never changed, which was from the start to make paying online as simple, safe and above all, smooth as possible. The result is one million transactions per day, some 90 million active users, over 200,000 merchants, 2,500 employees and with a valuation of €5 billion one of the largest banks in Europe.
In 2015, Klarna acquired the German fintech company Sofort AG, further growing from their Scandinavian roots to expand into Germany, Austria and beyond. The two companies operated under their own brand name until 2019 when Sofort was finally fully integrated and thus Klarna became the sole name for the payment method.
Besides using Klarna at thousands of shopping outlets, the payment method became a favourite for people at gaming sites, be it bookmakers, online casinos or fantasy sports. The main reason are the safe and instant transactions that are connected directly to a client’s bank account. When using Klarna at a casino, players simply select the method and enter the deposit amount before being led to the Klarna site where they log-in with their internet banking credentials. The security is thus enhanced as players will need to enter their OTP (One-Time-PIN) for their banking transaction.
Alternatively, users can link a credit or debit card to their Klarna app. All is done in a few simple steps that are fully secured from the start to the completion of the transaction. In turn, players can also use Klarna for their withdrawals with the money going straight into their bank account.
Dozens if not hundreds of online casinos and bookmakers have Klarna/Sofort listed as payment method. By clicking on the tab on top of this page, you will find the gaming sites on our recommended list.