What Klarna Kosma does

Klarna Kosma is the open banking and financial infrastructure arm of Klarna Bank AB (legal entity), operating as a platform that delivers risk management, multibanking, bank transfer, and account verification services. The firmographic record positions Klarna Kosma as a B2B-oriented infrastructure product distinct from, though affiliated with, Klarna's broader consumer-facing brand. The product surface is built around API-driven bank connectivity and data services used by financial institutions and merchants to verify accounts, assess risk, and execute account-to-account transfers.

The broader Klarna entity that supplies most of the input data is a global digital bank and flexible payments provider serving 1 million+ merchants across Europe and the United States. Its core consumer product is a buy-now-pay-later installment and flexible-checkout offering, supported by a digital wallet (Klarna Wallet) launched in Europe via a Visa partnership that leverages EU regulatory opening of iOS NFC access. Merchants are acquired primarily through indirect channel agreements with leading Payment Service Providers, who integrate and resell Klarna's payment flows into their merchant networks — a go-to-market motion that added 285,000 merchants in 2025 (115,000+ in Q4) and produced 47% YoY merchant-base growth.

The revenue model combines merchant transaction-based fees (on installment and flexible payment flows) with channel economics driven by PSP partnerships. Klarna Kosma's standalone B2B infrastructure offering (open banking, risk, verification) likely represents a smaller, more enterprise-oriented revenue stream layered on top of the consumer payments franchise. Klarna is referenced as Nasdaq-listed, indicating a publicly traded parent. The company is headquartered in Stockholm, Sweden, with 101–250 employees disclosed across the analyzed entity.

Name

Klarna Kosma

Legal name

Klarna Bank AB

Website

https://kosma.com

Company type

Public

Operating status

Operating

Headcount range

101–250 employees

Short description

Klarna Kosma is Klarna Bank AB's open banking infrastructure platform providing risk management, multibanking, bank transfer, and account verification services to financial institutions and merchants, operating within Klarna's broader global digital bank and flexible payments network of 1M+ merchants.

Ownership category

akta.pro rank

Product category

Open Banking Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Open Banking APIs & Connectivity (FSAMAFAA)

akta.pro secondary industries

Open Banking, Account Aggregation & Payment Initiation APIs (BPAMAFAJ), Account Verification & Ownership (AVS/AOV, micro-deposits, auth) (FSAGACAB)

Keywords

• Open banking platform
• Payment infrastructure
• Bank transfer services
• Account verification API
• Risk management fintech

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Distribution channels1 record

Core offering

Klarna Kosma is an open banking platform that provides financial institutions, merchants, and payment service providers with bank transfer, multibanking, account verification, and risk management capabilities. It enables flexible payment experiences (including buy-now-pay-later and digital wallet functionality) by connecting to consumer bank accounts through open banking APIs, supporting over 1 million merchants globally.

Differentiator

Problem solved

Functional benefit

Brands

• Klarna Wallet: A digital wallet product launched in Europe as part of Visa's enabling of new digital wallets following regulatory changes opening iOS NFC access.

Products and services

• Klarna Kosma Open Banking Platform

Quantifiable outcome

• 47% increase in merchant numbers over the past year

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• VisacoreTechnology or IntegrationVisa enabled the launch of Klarna Wallet in Europe following a regulatory change that opened iOS NFC access to rivals. This partnership positions Klarna within the broader Visa-backed digital wallet ecosystem in Europe, representing an industry evolution towards multipurpose digital containers.
• Payment Service ProviderscoreChannel Partner/ Reseller/ DistributorKlarna's merchant growth is attributed to expanding agreements with leading payment service providers, which integrate and resell Klarna's flexible payment solutions to their merchant networks.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• TrueLayer: TrueLayer is a UK/European open banking API platform offering account verification, payment initiation, and data connectivity—head-to-head with Klarna Kosma in the EU market where Kosma's PSP-driven distribution competes against TrueLayer's direct merchant integrations.
• Tink: Tink (owned by Visa) provides open banking APIs across Europe for account information, payment initiation, and verification—directly comparable to Kosma. The Visa-Tink relationship specifically overlaps with Kosma's Visa-enabled wallet distribution.
• MX: MX provides open banking data connectivity, account verification, and financial-data orchestration—directly competitive with Kosma's account-verification and multibanking propositions for fintech and merchant use cases.
• Token.io: Token.io is an open banking payments and account-data platform operating in the UK and Europe—directly comparable on payment-initiation APIs and A2A merchant acceptance, the same functional space as Kosma's bank-transfer service.
• Trustly: Trustly provides open banking-based account-to-account payments across Europe, overlapping with Kosma's bank-transfer and multibanking capabilities. Comparable Nordic/European market focus (Trustly is also Stockholm-headquartered) and similar merchant-network scale trajectory.
• Plaid: Plaid is the leading US-centric open banking connectivity and account-aggregation platform, directly competing with Klarna Kosma on bank APIs, account verification, and risk data. Most direct functional overlap in multibanking and account verification.
• Yapily: Yapily is a European open banking infrastructure provider focused on API connectivity, account aggregation, and payment initiation. Comparable scale (enterprise-grade connectivity) and comparable merchant/PSP-led distribution strategies as Kosma.

Broad incumbents

• Adyen: Adyen is a global payments-processing incumbent that competes for the same merchant relationships as Kosma (through PSP partners like those Kosma leverages). Adjacent rather than direct: Adyen absorbs card and emerging payment-rail volume, raising competitive pressure on Kosma's PSP-led distribution.
• Stripe: Stripe is a global payments platform that has expanded into bank-data and financial connectivity (Stripe Financial Connections). Comparable to Kosma in serving merchants with payment and account-verification offerings, though broader in scope.
• Finicity (Mastercard): Finicity, owned by Mastercard, is a US open banking platform offering consumer-permissioned data access and account verification—part of Mastercard's broader payments portfolio, comparable to Kosma in functionality but with strategic distribution through Mastercard rails.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/KlarnaKosma

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Klarna Kosma