Airbank chooses Klarna Kosma open banking platform for international expansion
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.