Klarna has acquired Close Brothers Retail Finance to boost its position in the UK market for retail financing.
On September 14, 2018, Klarna Bank has announced the acquisition of Close Brothers Retail Finance (CBRF) from the UK-based merchant banking group Close Brothers Group. With this acquisiotion, Klarna aims to streamline its position for retail financing, as well as it accelerates the expansion of the customer offering.
Close Brothers Retail Finance is a provider of omnichannel retail finance, with active merchants such as Samsung Electronics, Mothercare, GAME, Jessops, Ebuyer, Emma Mattress, Cotswold Outdoor and Victorian Plumbing. The company allows shoppers to pay in simple, flexible monthly payments, thus helping merchants convert more browsers into buyers, uplifting sales and offering superior customer experiences.
Moreover, the Managing Director of CBRF, Alex Marsh, suggests that along with the integration into Klarna, they are able to further develop their capabilities and to provide more valuable services to the merchants.
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