To the rescue...

To the rescue…

German start-up Cookies crumbled, but Swedish payments provider Klarna has rumbled into action to take on its tech assets and employees.

As Banking Technology reported this month, Cookies ended its short life as a peer-to-peer (P2P) payment app and applied for insolvency.

At that time, Cookies co-founder Lamine Cheloufi said the other co-founder, Garry Krugljakow, was dismissed due to “mistrust” in their relationship, and “after many attempts at a solution”, which failed to work, the result was a “final separation”.

As the managing director of Cookies, Cheloufi says he “felt compelled” to file an application for insolvency. He added that the firm was insolvent and “will not be able to survive in this form”. The request was lodged but the proceedings hadn’t been opened.

However, the fintech gadfly is reborn and Cheloufi, who now looks after products for Klarna, says he is “thrilled to become part of Klarna together with our strong team and take on new innovative projects out of Berlin”.

He adds: “It’s time for a winter break from the public. See you all in 2017.”