The establishment of a Danish branch is a crucial part of Klarna Bank AB's ongoing growth strategy and provides them with a foothold in the Danish market in order to further expand its business here. Horten has advised Klarna Bank AB on all matters related to the establishment of a Danish branch.
Klarna Bank is one of the leading providers of payment solutions for online shops, and the Swedish fintech bank was earlier this year valued at almost DKK 200 billion. Klarna Bank has approximately 90 million active customers in the Western world and supplies 250,000 web shops with payment solutions. It is estimated that Klarna handles around 40 % of the online shopping transactions performed in Sweden, Norway and Finland. And now, the time has come for Klarna Bank to increase its market share in Denmark via its new Danish branch.
Long and intensive process
The long and intensive process of establishing a branch of Klarna Bank in Denmark has been ongoing for more than six months and has included extensive financial regulatory and strategic advice, together with advice on numerous tax law, corporate law, employment law, AML and GDPR issues.
The application has now been approved by the Danish Business Authority, which allows Klarna Bank to establish presence in Denmark via their newly formed Danish branch named Klarna Bank, filial af Klarna Bank AB (publ), Sverige.
Horten's advice included extensive financial regulatory and strategic advice, together with advice on numerous tax law, corporate law, employment law, AML and GDPR issues.
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