Rise in Use of ‘Buy Now, Pay Later’ Loans Drives Klarna’s Growth
Klarna, the leading provider of ‘buy now, pay later’ loans, has reached a major milestone by surpassing 100 million European customers. The UK market has played a significant role in this achievement, with a 26% increase in the value of goods sold through Klarna compared to the previous year. Across Europe, Klarna’s growth has been robust, with a 14% rise in the value of goods sold.
Alongside its large customer base, Klarna boasts over 470,000 merchant partners across Europe. In the UK alone, Klarna has amassed 18 million customers and established partnerships with over 31,000 merchants. This exponential growth has been fueled by Klarna’s expansion into new sectors.
Changing Demographics and Sustained Growth
Klarna has observed a shift in its customer demographics, with older users joining the platform. The average age of Klarna customers has risen from 33 in 2021 to 36 in the current year. This trend highlights the broad appeal of Klarna’s flexible payment options.
Klarna’s CEO, Sebastian Siemiatkowski, expressed his delight at the company’s extraordinary growth in Europe. He emphasized the company’s commitment to the region, stating, ‘While other players may retreat or reduce their presence, we are doubling down on our investment and strengthening our position in Europe and the US.’
Klarna’s Global Reach
Klarna is not only thriving in Europe but also has a substantial global presence. With more than 150 million active users worldwide, Klarna facilitates two million transactions daily. Over 500,000 global retailers have partnered with Klarna, benefiting from its convenient and flexible payment solutions.
