The Cookies app aimed to simplify mobile money transfers and was once one of the most hyped up-and-coming German fintech companies. Due to lack of funding, the startup was forced to file for bankruptcy earlier this month.
While the terms of the acquisition by Klarna were not disclosed, Swedish media reports that the sum is likely low.
The Cookies team will work on unspecified new projects according to Klarna.
Stockholm-based Klarna provides online payment services for e-commerce websites that aim to eliminate risk for both the buyer and seller. With the service, customers are only charged after receiving the product. The company employs more than 1,400 people.
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