Klarna unlisted shares
Klarna was established in 2005 in Stockholm, Sweden. It was founded with the idea to make it easier for people to shop online. It is now Europe’s largest bank providing solutions to over 90 million people. Their services are used by more than 200,000 merchants across 17 countries. the offerings of the company include direct payments, pay after delivery options, and installment plans. They also acquired SOFORT in 2014, this led the company to form the Klarna group. Klarna is backed by investors like Sequoia Capital, Bestseller, Permira, Visa, and Atomico. It currently has 3500 employees and contributes to 10% of the European market share.
Klarna is being used by big companies like H&M, Adidas, IKEA, Zara, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike, and AliExpress.
The company also has a Klarna app that is continuously updated basis the customers’ preference. The app allows users to connect other bank accounts, friendly reminder push notification, and an overview of all the purchases. The company witnesses approximately 37000 installs per day globally and has close to 11 million active users.
Klarna also launched a feature of ‘Shop now pay later’ in the US. In this, the user is allowed to purchase the desired product and is provided the facility to repay the amount in 4 different installments with zero interest. During 2019, the number of issued Klarna cards increased by almost 6x while volumes increased by 20x and transactions by 24x in Sweden and Germany
- Partnership with Radial, a leader in omnichannel commerce technology and operations, in the US.
- Partnership with Stripe was essentially to change customer shopping experience and incorporate flexible payments during the purchase of festival tickets
- Partnership with Aden
- Partnered with ApplePay and GooglePay, to make mobile payments easier and secure in the US and UK
- Topshop Topman
- Michael Kors
- Air France
- 31% increase in Y-o-Y growth in Revenue in 2019
- Total operating revenue was USD 7,155 million
- Added 75000 new merchants in 2019
- The number of active customers increased by 6x in the US and 2x in the UK
- The number of issued Klarna cards increased 5x
- CSAT(Average monthly customer satisfaction) was 86%
- Klarna Holding AB raised USD 460 million in equity funding
- Global app installs increased by 9x
- Merchants volume increased by 1.6x
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