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Companies

Klarna’s Half Yearly Operating Loss Rises

“Swedish payments company Klarna said on Wednesday its half-yearly operating loss more than tripled weighed down by an increase in employee costs, higher credit losses and continued investment in market expansion. The operating result for the first half of the year was a loss of 6.17 billion Swedish crowns ($578.52 million) compared with 1.76 billion […]
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Companies

Klarna Expands ‘Super App’ to Track All Your Shopping

“Klarna wants to lead a generational shift away from credit cards and, increasingly, be users’ only app for online shopping. Klarna has made a big step forward in its long-term strategy to become the sole shopping app consumers use. The BNPL giant has updated its app so consumers can use it to keep track of all […]
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Companies

Blackhawk Network and Klarna Partner to Offer Consumers More Flexible Payments In-Store

“Today, a new partnership between global branded payments provider, Blackhawk Network, and leading global retail bank, payments, and shopping service, Klarna, will extend the ability for consumers to use Klarna’s interest-free alternative payment solutions at a variety of physical retail locations. As consumers expect increased flexibility in the way they shop and pay throughout their everyday […]
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Companies

Klarna Raises $800 Million as Valuation Plunges 85% in a Year

“Swedish payments firm Klarna Bank AB said on Monday it had raised $800 million of funds at a valuation of $6.7 billion, down around 85% from the $46 billion price-tag it attracted last year. The tough stance taken by funders comes amid a drop-off in investor interest in fast-growing tech ventures that have yet to […]
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Companies

As Klarna and Affirm Falter, a New Breed of ‘Buy Now, Pay Later’ Startups are Stealing the Spotlight

“With hype over the “buy now, pay later” trend fading, some investors are betting they’ve found the next big thing. Buy now, pay later companies like Klarna and Affirm, which let shoppers defer payments to a later date or break up purchases into interest-free installments, are under immense strain as consumers become more wary about spending due […]
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Companies

Klarna CEO Defends Business Despite Massive Losses and Layoffs

“Klarna CEO Sebastian Siemiatkowski has defended his company’s business model and the controversial “buy now, pay later” industry. Klarna lets consumers buy things that they might not necessarily be able to afford at that moment in time. Its 150 million customers pay a relatively small amount up front and pay back the rest later.   […]