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Klarna raises $20M from H&M, will build financing and payment services for the fashion retailer

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As more traditional brick-and-mortar retailers look to capitalise on the growth of e-commerce and mobile to compete against the likes of Amazon, fintech startups are reaping the rewards. In the latest development, Klarna, the payments startup out of Sweden that helps online shoppers arrange for financing at the point of sale, has picked up $20 million from H&M, the fashion retailer with 4,800 stores in 70 markets.

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