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Draft:Kustom AB

From Wikipedia, the free encyclopedia
Kustom AB
TypePrivate
IndustryFinancial technology, E-commerce
Founded2024
FoundersKamjar Hajabdolahi, BLQ Invest
Key peopleMartin Randel (Chairman)
Kamjar Hajabdolahi (CEO)
ProductsCheckout software, Mobile POS, merchant analytics
OwnerKustom HoldCo AB
ParentKustom BidCo AB (publ)
Websitekustom.co

Kustom AB is a Swedish financial technology company headquartered in Stockholm.[1][2] Established in 2024 through the acquisition and carve-out of Klarna Checkout (KCO) from Klarna, the company provides checkout infrastructure software for e-commerce and physical retail merchants.[3][4]

Kustom operates as a Software-as-a-Service (SaaS) checkout orchestrator rather than a direct credit-issuing institution,[5] connecting merchants to third-party payment service providers, local payment methods, and delivery management systems.[6] As of 2026, the company serves over 24,000 merchants across 18 primary markets, processing transactions in more than 170 countries.[7][8]

History

[edit]

Klarna Checkout origins and carve-out

[edit]

Klarna Checkout (KCO) was originally launched in 2012 by Klarna as an embedded checkout product for online merchants.[1] In mid-2024, Klarna divested the unit to refocus on its core global payment offerings.[3][9]

The carve-out was acquired by an investor consortium led by Kamjar Hajabdolahi (founder of BLQ Invest), alongside Yanno Capital (Anna and Nicklas Storåkers), Martin Randel, and Ashkan Pouya.[1][10]

The transaction represented an initial consideration of approximately SEK 2 billion, financed in part by a SEK 1.7 billion senior secured corporate bond issued by Kustom BidCo AB (publ).[1][11]

The business was launched under the brand name Kustom in October 2024.[12] Kustom established a core infrastructure partnership with Stripe to build a new processing backend on Stripe's architecture, while entering into a five-year commercial agreement with Klarna Bank AB to maintain Klarna payment options as a core method within its checkout.[3][5]

Key executives transitioning from Klarna included Jesper Eriksson (CCO), Rasmus Fahlander (CPO), and Alexander Olsson (CFO), while Martin Randel was appointed Chairman of the Board alongside directors Anna Storåkers and Kamjar Hajabdolahi.[1][13]

Independent platform migration and operational transition

[edit]

Following the carve-out, Kustom initiated a technical and operational rebuilding process to separate its infrastructure from Klarna.[14] In January 2025, former Klarna chief architect Frank Hoffmann was appointed Chief Technology Officer to further refine and develop the checkout software.[15] Throughout 2025, Kustom systematically migrated its 24,000 merchants off Klarna onto its independent Stripe-backed architecture, processing its first live merchant transaction on the new platform in late December 2024 and completing the transition by late 2025.[16][7]

During the operational transition, Kustom experienced merchant churn from accounts that had arranged to switch checkout providers prior to the divestment, including retailer Lager 157.[17][18] Conversely, the company renewed enterprise agreements with existing merchants, including Coop, Gina Tricot, MQ, Desenio, and Partykungen.[16][7] Additionally, Kustom onboarded new client accounts during 2025 and early 2026, including CAIA Cosmetics, Haglöfs, Matsmart, Koenigsegg, and Stalands.[7][19]

Alongside the core online migration, Kustom expanded its scope into physical retail by launching "Kustom Mobile Point of Sale (mPOS)" in February 2025, enabling smartphones to function as both point-of-sale systems and contactless payment terminals.[4][6] In July 2025, Kustom BidCo AB's SEK 1.7 billion bond was admitted to trading on the Nasdaq Stockholm Main Market.[7]

Expansion and acquisitions

[edit]

In January 2026, Kustom expanded its open banking payment capabilities by launching "Pay by Bank" in Finland in partnership with TrueLayer and Stripe.[20][21] During the same period, fashion brands NA-KD and A Day's March selected Kustom to consolidate their online checkout operations across international markets,[22][23] and software provider Fortnox integrated Kustom into its Sharespine accounting ecosystem.[24]

The company relocated its corporate headquarters to an 1,842-square-meter office at Sturegatan 6 in Stockholm in February 2026.[2][25]

In March 2026, Resurs Bank invested SEK 367 million in parent company Kustom HoldCo AB through a directed share issue.[26] The investment established a strategic B2B financing partnership allowing Kustom merchants to offer Resurs business loans and B2B invoice solutions, and Resurs Bank CEO Magnus Fredin joined Kustom's Board of Directors.[27]

In late March 2026, Kustom acquired the merchant contract portfolio of Vipps MobilePay Checkout in Norway, Denmark, and Finland for an initial consideration of NOK 409 million, with performance earnouts extending up to NOK 490 million.[28] The transaction transferred approximately 3,000 online merchants representing NOK 7 billion in annual transaction volume to Kustom's platform, while establishing Kustom as a recommended checkout partner for Vipps MobilePay.[29][30]

In mid-2026, Kustom established an official technical partnership with delivery management platform Ingrid, embedding multi-carrier shipping selection directly into the Kustom checkout interface to unify logistics selection and payment processing.[31] Long-standing client Adlibris updated its checkout infrastructure, integrating Ingrid's delivery management platform directly into its Kustom checkout flow.[32][31]

In June 2026, Kustom established an expanded partnership with e-commerce platform WooCommerce, becoming a recommended checkout solution for Nordic merchants within WooCommerce's global network.[31]

Platform and technology

[edit]

Kustom operates as a Software-as-a-Service (SaaS) checkout orchestrator rather than holding an independent payment institution license from Finansinspektionen.[5] The platform functions as a horizontal software layer that connects merchants to third-party payment service providers (PSPs) and local payment methods, relying on the payment license of Stripe.[5][7]

Checkout solution

[edit]

Kustom's primary product is a digital checkout interface that consolidates multiple international and regional payment methods into a single integration.[3][7]

Supported payment options include card processing via Stripe, Klarna, Swish, Vipps MobilePay, PayPal, Apple Pay, Google Pay, Bancontact (Belgium), BLIK (Poland), Cartes Bancaires (France), TWINT (Switzerland), MB PAY (Portugal), P24 (Poland), and EPS (Austria).[20][7][33]

The software supports pre-filled customer details, split-shipment routing for mixed digital and physical orders, digital age-verification flows for regulated products, and product-page express checkout shortcuts ("Elements").[34][7][33] The platform connects directly with e-commerce systems including WooCommerce and Brink Commerce, delivery management platforms such as Ingrid and nShift, and accounting software including Fortnox.[24]

Mobile POS

[edit]

Launched in February 2025, Kustom Mobile Point of Sale (mPOS) is a software application that enables standard smartphones and tablets to process in-person contactless card and mobile wallet payments without requiring separate physical card terminals.[4][6] The application synchronizes in-person physical transactions with online inventory, order management, and accounting systems within a single portal.[4][6][7]

Merchant analytics

[edit]

In March 2026, Kustom introduced "Insight Dashboards", an analytics suite integrated into its merchant portal.[34][35] The tool aggregates transaction data across three primary views: an operational overview detailing total order volume, average order value, return rates, and payment method distribution; a demographic module analyzing customer age, gender, geographic location, and purchase frequency; and a dispute management dashboard for tracking claims and chargebacks.[34][35][33]

Corporate affairs

[edit]

Ownership and leadership

[edit]

Kustom AB is a wholly owned subsidiary of Kustom BidCo AB (publ), which is owned by parent holding company Kustom HoldCo AB.[16][7] The company is headquartered in Stockholm, Sweden.[1] Major equity holders in the parent company include Kamjar Hajabdolahi, BLQ Invest, Yanno Capital (Nicklas and Anna Storåkers), Resurs Bank, Martin Randel, and Ashkan Pouya.[10][26]

Executive management is led by Chief Executive Officer Kamjar Hajabdolahi, alongside Chief Financial Officer Alexander Olsson, Chief Product Officer Rasmus Fahlander, Chief Commercial Officer Jesper Eriksson, and Chief Technology Officer Frank Hoffmann.[1][14] The Board of Directors is chaired by Martin Randel and includes board members Anna Storåkers, Resurs Bank CEO Magnus Fredin, and Kamjar Hajabdolahi.[13][26]

  1. 1 2 3 4 5 6 7 Leijonhufvud, Jonas (3 October 2024). "Affären slutförd: Klarna Checkout byter namn och skalas upp". Dagens industri. Retrieved 24 September 2026.
  2. 1 2 "Novier hyr ut till Kustom på Sturegatan". Fastighetssverige. 5 February 2026. Retrieved 24 September 2026.
  3. 1 2 3 4 Åkesson, Hanna (3 October 2024). "Kustom är nya namnet på Klarna Checkout". Breakit. Retrieved 24 September 2026.
  4. 1 2 3 4 Skjelsbæk, Jörgen (27 February 2025). "Checkout-kjempe gjør mobilen til kortterminal". Bankshift. Retrieved 24 September 2026.
  5. 1 2 3 4 Segerlund, Isabella (24 March 2025). "Därför rider Kustom på andras licenser". FinansWatch. Retrieved 24 September 2026.
  6. 1 2 3 4 Leijonhufvud, Jonas (27 February 2025). "Klarnas avknoppning tar upp kampen med Zettle". Dagens industri. Retrieved 24 September 2026.
  7. 1 2 3 4 5 6 7 8 9 10 11 Annual Report 2025 (PDF) (Report). Kustom BidCo AB (publ). 27 April 2026. p. 17.
  8. ↑ Karlsson, Johannes (17 February 2026). "Lista: Här är Sveriges 91 miljardvärderade techbolag 2026". Dagens industri. Retrieved 24 September 2026.
  9. ↑ Käck, Ella (3 October 2024). "Klarna Checkout sålt i miljardaffär - byter namn till Kustom". Dagens Handel. Retrieved 24 September 2026.
  10. 1 2 Wahlqvist, Jon (3 October 2024). "Paret Storåkers storägare i nya Klarna checkout (som bytt namn till Kustom)". Breakit. Retrieved 24 September 2026.
  11. ↑ Year-end Report 2024 (PDF) (Report). Kustom BidCo AB (publ). 28 February 2025. p. 3.
  12. ↑ "Klarna Checkout blir Kustom". Butikstrender. 3 October 2024. Retrieved 24 September 2026.
  13. 1 2 Hävner, Martin (15 December 2024). "Kustoms vilda rekryteringsräd - "Bästa talangerna i världen"". Breakit. Retrieved 24 September 2026.
  14. 1 2 Aronsson, Olle (15 January 2025). "Kustom rekryterar Erik Olofsson från Rebtel". Breakit. Retrieved 24 September 2026.
  15. ↑ Gunnilstam, Julius (15 January 2025). "Kustom rekryterar tunga namn från Klarna och Stripe - "min baby"". Ehandel.se. Retrieved 24 September 2026.
  16. 1 2 3 Annual Report 2024 (PDF) (Report). Kustom BidCo AB (publ). 28 February 2025. p. 3.
  17. ↑ Westberg, Loke (4 April 2025). "Klädjätte dumpar Klarna för Walley". FinansWatch. Retrieved 24 September 2026.
  18. ↑ "Lager 157 lämnar Klarna för konkurrenten". Market.se. 6 November 2025. Retrieved 24 September 2026.
  19. ↑ Interim Report Q3 2025 (PDF) (Report). Kustom BidCo AB (publ). 27 November 2025. p. 7.
  20. 1 2 Chakraborty, Aninda (22 January 2026). "TrueLayer and Stripe expand Pay by Bank to Finland". Electronic Payments International. Retrieved 24 September 2026.
  21. ↑ "TrueLayer and Stripe Tap Into Finnish E-Commerce with Kustom Checkout Deal". The Fintech Times. 29 January 2026. Retrieved 24 September 2026.
  22. ↑ "NA-KD väljer Kustom som global kassapartne". IT-Retail.se. 29 January 2026. Retrieved 24 September 2026.
  23. ↑ "A Day's March väljer Kustom som ny kassalösning". IT-Retail.se. 20 February 2026. Retrieved 24 September 2026.
  24. 1 2 "Fortnox köper Sharespine och tar nästa steg mot ett sömlöst ekosystem för digital handel". Finanstid. 22 January 2026. Retrieved 24 September 2026.
  25. ↑ Gilbert, Pernilla (16 February 2026). "Fintech till Sturegatan". Magasinet Lokalguiden. Retrieved 24 September 2026.
  26. 1 2 3 Leijonhufvud, Jonas (25 March 2026). "Din e-post Resurs Bank satsar 367 miljoner på Kustom". Dagens industri. Retrieved 24 September 2026.
  27. ↑ Cervenka, Johanna (25 March 2026). "Resurs Bank går in i Kustom". FinansWatch. Retrieved 24 September 2026.
  28. ↑ Nordtømme, Benjamin (26 March 2026). "Vipps säljer sin kassalösning till Kustom". FinansWatch. Retrieved 24 September 2026.
  29. ↑ Lehtiniitty, Markus (27 March 2026). "Vipps MobilePay myy verkkokauppa-kassaratkaisunsa". Mobiili.fi. Retrieved 24 September 2026.
  30. ↑ "MobilePay myy verkkokauppatoiminnot ruotsalaisille – keskittyy jatkossa täysillä Applea ja Googlea vastaan". AfterDawn. 27 March 2026. Retrieved 24 September 2026.
  31. 1 2 3 Half-year Report H1 2026 (PDF) (Report). Kustom BidCo AB (publ). 27 August 2026. p. 5.
  32. ↑ Leijonhufvud, Jonas (14 November 2024). "Fraktförenklaren skalar upp - krokar arm med Kustom". Dagens industri. Retrieved 24 September 2026.
  33. 1 2 3 Interim Report Q1 2026 (PDF) (Report). Kustom BidCo AB (publ). 22 May 2026. p. 6.
  34. 1 2 3 Segerlund, Isabella (18 March 2026). "Ny funktion ska förbättra Kustoms plattform". FinansWatch. Retrieved 24 September 2026.
  35. 1 2 "Kustom lanserar analysverktyg som avslöjar vilka kunderna egentligen är". Dagens Innovation. 20 March 2026. Retrieved 24 September 2026.
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