Klarna is hiring a team to build a product that would compete with Robinhood's trading platform

Swedish fintech company Klarna is considering expanding into the stock trading market by developing a new product that allows users to buy and sell stocks and ETFs through its app, potentially competing with established platforms like Robinhood. The company internally advertised four positions to form a team for this project, as mentioned in an internal Slack message seen by Business Insider.

This initiative marks a shift from Klarna's primary focus on buy-now, pay-later services, as it aims to "obliterate the barriers to consumer investing" and enhance financial futures for its users. Klarna director Ludo Lombaard announced this exploration in a general Slack channel post on October 6. The message emphasized the opportunity for engineers and traders to contribute to a product still in its early conceptual stages. However, a Klarna spokesperson clarified that while the idea is being explored, there are no firm plans, and the product may not reach the market after initial exploration.

Source: MSN