
Klarna has established itself as a major player in the European payments industry, with a valuation of $6.7 billion.
Klarna is an e-commerce payment solutions platform for merchants and shoppers.
Klarna Bank AB, commonly referred to as Klarna, is a Swedish fintech company that provides online financial services such as payments for online storefronts and direct payments along with post-purchase payments.
The company has more than 4,000 employees, most of them working at the headquarters in Stockholm and Berlin. In 2021, the company handled about US$80 billion in online sales. As of 2011, about 40% of all e-commerce sales in Sweden went through Klarna. In 2021, the company was Europe’s most valuable private tech company, at a $45.6 billion valuation, however this crashed to $6.7 billion in 2022.
Klarna’s core service is to provide payment processing services for the e-commerce industry, managing store claims and customer payments. It has become known as a ‘Buy now, pay later’ (BNPL) service provider, offering customers credit on their purchases as part of the checkout process.
Klarna has established itself as a major player in the European payments industry, with a valuation of $6.7 billion.
The tool will use AI to provide users with information on goods around them through the Klarna app by simply pointing their phones at items.
Sebastian Siemiatkowski, Klarna’s CEO and founder, said that the firm is very hopeful for the second half of 2023, suggesting that the aggressive cost-cutting strategy in 2022 may now be yielding.