Anders Holch Povlsen, owner of Danish fashion retailer Bestseller, is buying a stake in payments firm Klarna, the firm said on Wednesday.

A Klarna spokeswoman declined to comment on the precise size of the stake, but said it would be at least 10 percent, reported Reuters. Klarna had a 2.25 billion dollars valuation at the end of 2015.

Klarna said Povlsen's company Brightfolk would buy shares from General Atlantic, DST Global and Niklas Adalberth, who will all still retain stakes in the firm.

"I am delighted to welcome such a strong partner into Klarna," co-founder and CEO Sebastian Siemiatkowski said in a statement.

Bestseller includes brands such as Jack & Jones, Vero Moda, Only and Selected. Povlsen also has significant holdings in e-commerce fashion sites Asos (ASOS.L) and Zalando (ZALG.DE).

 

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