Berlin, July 27, 2022 - Klarna Kosma, Klarna's financial technology platform for banks, fintechs and innovative retailers, today announced its collaboration with Airbank, a digital financial management platform for businesses. Klarna Kosma's open banking platform provides Airbank with access to the world's largest international network of banks, significantly accelerating the Berlin-based fintech's expansion into Europe and further markets.
Airbank allows businesses to manage their finances by consolidating all their bank accounts in one place. SMEs and startups use Airbank to monitor their business accounts in real time, automate their bill management and make payments through the portal. This way, Airbank helps companies keep track of all their financial transactions, forecast their future liquidity and execute payment processes.
The international expansion is a strategically important step for Airbank. Instead of acquiring different technologies for each market, Klarna Kosma's open banking platform gives Airbank easy and secure access to account information from 15,000 banks in 26 countries worldwide through a single API integration. The broad market coverage paves the way for a rapid international expansion and opens up Airbank's platform to SME customers with global requirements.
Just recently, the Berlin-based fintech raised a $20 million funding round for their expansion plans. "By the end of this year, we will serve over 50 countries, making Airbank the most comprehensive global banking solution for SMEs in the industry, with the ability to connect bank accounts from almost anywhere in the world. We are delighted to have Klarna Kosma as an experienced and dynamic partner that shares our ambition to shape the future of B2B financial management", said Christopher Zemina, founder and CEO of Airbank.
"The market for fintechs focused on SMEs harbors enormous potential for growth. Yet, hardly any open banking providers are addressing their needs. We are proud to empower Airbank to make the leap to a global stage with our proven API and help to drastically simplify financial management for SMEs around the world", said Wilko Klaassen, VP, Klarna Kosma.
About Klarna Kosma:
Klarna Kosma puts breakthrough ideas into action in a powerful way. Launched in 2022, Klarna Kosma is Klarna's financial technology platform for banks, fintechs and innovative merchants who are developing payment services or need access to financial data to develop their own solutions for the benefit of end users*. The proven and mature platform provides essential connectivity to a growing network of more than 15,000 banks in 26 countries through a single open banking API. Klarna Kosma processes nearly one billion bank account information requests each year, making it the most comprehensive open banking platform in the world. For more information, visit www.kosma.com.
Airbank is the next-generation finance operations platform for founders and CFOs that puts all bank accounts and financial data into one place and helps them streamline and automate mundane tasks. It provides real-time insights into a business's cash flows and offers finance professionals better workflows for bill payments, approvals and the month-end close. To learn more, visit joinairbank.com.