Klarna transactions soar as US users hit 20mln

The Swedish payments company said it will keep expanding into new markets


Swedish payments company Klarna announced a jump in transactions in the second quarter as the number of users in the US reached 20mln.

The “buy now, pay later” group said gross merchandise volume (GMV) – the value of transactions - rose to US$20bn in the three months to June 30 from US$12bn in the same period last year, while in the first half GMV grew to US$39bn from US$22bn.

In the US, GMV rocketed 311% in the first half, driven by an increase in American users of 3mln to 20mln during the second quarter.

The group has over 90mln active users worldwide and 2mln transactions a day. It launched in France and New Zealand in the first half and in Poland in August and now operates in 17 countries.

The company said it would keep expanding into new markets.

Sebastian Siemiatkowski, CEO and co-founder of Klarna, said: “As we invest for growth by expanding our offering in existing markets and bringing Klarna to new markets, we are confident we can continue this strong track record that is helping create a sustainable global digital economy that benefits everyone.”

The company is widely expected to list in New York in the next couple of years, but gave no details of its plans in Wednesday’s earnings release.

In June, the company raised US$639 million in a funding round, giving it a valuation of near US$46bn.

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