Tag: Klarna

If there was any additional proof needed of the commonplace nature of drugs in the everyday lives of Generation Z: Swedish fintech giant Klarna will introduce alcohol and drug testing for employees in Sweden starting January 2025. The move, part of a broader security initiative, comes as Klarna prepares for its highly anticipated IPO in the United States.

Klarna, the Swedish buy now, pay later (BNPL) giant, has officially filed for an initial public offering (IPO) in the United States. The fintech company confidentially submitted the relevant paperwork to the U.S. Securities and Exchange Commission (SEC), it said last night. Allegedly, the firm was in talks with banks about a New York IPO and was targeting a $20bn price tag.

In recent weeks, we have reported about the illegal online casinos Atlantis Slots and PlayRegal recruiting players in EEA regulatory regimes without a license and accepting their deposits. One of the payment options is a bank transfer via Klarna's Sofort. With today's update, we have discovered that Sofort has been removed from PlayRegal and Atlantis Slots. However, Sofort is still available as a payment option for TTVGAMES.

As part of our ongoing "follow-the-money" investigations into the online casino and gambling industry, we have identified Intelli Global Ltd, a UK-registered company, as a significant player in this high-risk environment. This review will focus on Intelli Global Ltd and its gaming platform, TTVGAMES, and will delve into the involvement of fintech unicorn Klarna and its subsidiary Sofort in facilitating payments for unauthorized online gambling operations.

FinTelegram's investigative efforts under the "Follow the Money" initiative have revealed significant findings about the involvement of payment processors in the online casino and gambling industry. Among the notable entities, Klarna's subsidiary Sofort has frequently surfaced as a payment processor for various operators, including those running illegal or unauthorized schemes.

According to a recent Financial Times report, the UK fintech giant Revolut is aiming for a valuation exceeding $40 billion in an upcoming share sale, according to insiders. This move would solidify its status as Europe’s most valuable startup. The high rating is somewhat surprising given the fact that the UK regulators have so far refused to grant Revolut the requested banking license. Its competitors, Monzo and Starling, have secured banking licensesw a few years ago already.

The U.S. Consumer Financial Protection Bureau (CFPB) has issued an interpretive ruling that mandates Buy Now, Pay Later (BNPL) lenders to adhere to the same regulatory standards as credit card operators, Reuters reports. This landmark decision means that BNPL providers must extend key legal protections and consumer rights akin to those of traditional credit card companies. Despite criticism, we think this is a reasonable approach to protecting consumers.

In the cutthroat world of fintech, Klarna, under the helm of Sebastian Siemiatkowski, has thrown down the gauntlet, embracing the AI revolution with a zeal that borders on fanaticism. With the introduction of a ChatGPT-powered AI assistant, Klarna isn't just dipping its toes into the AI waters; it's diving headfirst. This isn't just an experiment—it's a bold declaration that AI is the future, and Klarna is staking its claim, ready or not. The Klarna AI handles the workload of 700 employees, the company said.

We've uncovered a concerning trend in our recent analysis of the online casinos and gambling sector, particularly focusing on the high-risk aspects of these activities and their associated payment processors. Many payment processors, including those regulated by financial authorities, seem to be unknowingly engaging in unauthorized and, consequently, illegal online gambling operations. FinCrime Observer published an interesting report about this scene and its payment processors.

FinTelegram already revealed that Klarna, a prominent Swedish fintech company operating under banking regulation through its subsidiary Sofort, is...

Swedish buy-now-pay-later (BNPL) pioneer Klarna recently announced its first profitable quarter with an impressive increase in transactions. Apparently, a significant part of the processed payment volume comes from the gaming industry. Through Sofort.com, the Klarna Group is a payment processor for many illegally operating online casinos and gambling providers, according to the results of our research.

In a strategic move gearing up for its future public listing, Swedish fintech giant Klarna has initiated a significant corporate reshuffle, confirming preparations for an impending IPO. The firm announced the formation of a holding company in the United Kingdom, marking a pivotal step in this direction, a decision supported by a profitable third quarter that witnessed a 30% revenue increase to approximately $550 million.