Moss, the fast-growing European fintech, has today announced its partnership with Klarna's financial technology platform, Klarna Kosma, to solve one of the major pains that SME finance functions face: lack of control and visibility on corporate spend. The partnership marks the latest in a string of momentous events for Moss, which has been rapidly expanding in the European market since receiving $86m in Series B funding in early 2022.

Moss currently provides digital expense management and smart corporate cards to small and medium-sized businesses in the UK, Germany and the Netherlands. Following today’s announcement, and by utilising Klarna Kosma’s Open Banking network, Moss is able to enhance its customer offering by providing more efficiency in a space that was - and still is - rather archaic and cumbersome for finance teams, relieving time and effort. The announcement also demonstrates the fintech's commitment to cement its European footprint throughout 2023. 

Powered by Open Banking, Moss customers now benefit from real-time visibility of their liquidity at any moment in time, enabling finance teams to report more accurately. Mike Panzeri, General Manager UK at Moss, added: “Partnering with Klarna Kosma is a natural next step for us as we continue helping European businesses to automate their financial processes. Kosma’s Open Banking solution will enable us to power more businesses to spend smarter through greater visibility and control over their expenses, and provide financial confidence in the face of challenging economic times.” 

Klarna Kosma is a sub-brand and business unit of Klarna to harness the rapid growth of its world-leading Open Banking platform. By providing simple access to more banks than any other Open Banking provider, Kosma rapidly reduces the time for new fintech services to reach a global scale and provides the essential building blocks for innovation in financial services. Klarna’s Open Banking Platform enables Moss to gain access to its customers’ with increased speed and accuracy. This allows Moss to onboard new customers more quickly and provides credit products much more accurately.

Jörg Heilmann, Senior Solution Engineer at Klarna Kosma, commented: “With access to Klarna Kosma, Moss will be better equipped to drive its international expansion plans and meet its wider business goals. We recognise that Moss has a vital role to play in the European market in helping SMEs harness their financial management, and with the use of Klarna Kosma they will be able to do this on an even bigger scale.”