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Alibaba's Payment Affiliate Eyes European Consumers With Klarna Stake

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Alibaba's Payment Affiliate Eyes European Consumers With Klarna Stake

Alibaba's (NYSE: BABA) payment affiliate, Ant Financial, has acquired a stake in Klarna, a European fintech company, strengthening an existing relationship between the two.

In a blog post, Klarna said Ant has taken a minority stake in the app that lets consumers "buy now and pay later." An unidentified source told Reuters that Ant Financial's stake is less than 1%.

Image source: Getty Images.

Source Fool.com

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