Airbank selects Klarna Kosma as it eyes global expansion

Berlin-based fintech Airbank has chosen Klarna Kosma, the buy now, pay later provider’s financial technology platform, to accelerate its expansion across Europe and other markets.

Airbank helps businesses to manage their finances by consolidating their bank accounts in one place.

Its collaboration with Klarna’s Open Banking platform, Klarna Kosma, will give Airbank access to account information from 15,000 banks in 26 countries worldwide, through a single API integration.

“By the end of this year, we will serve over 50 countries, making Airbank the most comprehensive global banking solution for SMEs in the industry, with the ability to connect bank accounts from almost anywhere in the world,” said Christopher Zemina, founder and CEO of Airbank.

It follows a funding round earlier in the year, which saw Airbank secure $20 million for its expansion plans.

Klarna Kosma’s Wilko Klaassen

Wilko Klaassen, VP at Klarna Kosma, added that although the market for fintechs focused on SMEs “harbours enormous potential for growth”, hardly any Open Banking providers are addressing their needs.

“We are proud to empower Airbank to make the leap to a global stage with our proven API and help to drastically simplify financial management for SMEs around the world,” Klaassen said.

Stockholm-based Klarna launched its financial technology platform for banks, fintechs and merchants earlier this year.

Klarna entered the Open Banking arena with its acquisition of German direct bank-to-bank payment services company SOFORT in 2014.