Klarna to Offload Checkout Business in $520 Million Deal (1)

Klarna Bank AB is looking to get out of one of its key payments businesses after the financial technology giant found the unit created a conflict of interest with peers like Adyen NV or Stripe Inc.

An investor consortium led by the serial entrepreneur Kamjar Hajabdolahi has agreed to acquire the Checkout business in a deal that values the unit at 5.4 billion kronor ($520 million), according to documents obtained by Bloomberg News.

Klarna has long offered merchants two ways of offering its payment options to their customers. With Checkout, a retailer could work directly with Klarna to make ...