Klarna raises USD 650 mln to accelerate global growth

Tuesday 15 September 2020 10:45 CET | News

Klarna has announced the USD 650 million raise in an equity funding round, at a post money valuation of USD 10.65 billion.

The funding will help Klarna further invest in its shopping offerings, continue to grow its global presence, and accelerate its momentum across all markets, especially in the US where the company is growing particularly rapidly now having more than 9 million consumers.

Klarna’s direct to consumer app, which enables users to shop at any store or brand online with instalment payment options, has more than 12 million monthly active users worldwide, with 55,000 daily downloads. The app also features a buy now, pay later shopper loyalty program, Vibe, which rewards consumers who pay on time, to encourage responsible spending. Vibe is currently available to consumers in the US and will soon be launched in additional markets.

Klarna has added more than 35,000 new retailers during the first half of 2020 to its network of more than  200,000 retail partners including Sephora, Groupon, SHEIN, Charlotte Tilbury, Vans, The North Face, Ted Baker, Timberland, and Ralph Lauren.

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Keywords: Klarna, funding, pay later, instalments, retail, loyalty programme
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce