Swedish fintech Klarna now has more than 100 million European users across its platform. In addition, its GMV, or Gross Merchandise Value, grew by 14% year-on-year in Q2, outpacing e-commerce which grew by just 1% in the same period, the company said.
Making the announcement in a statement, Klarna noted recent new multi-market deals including TIER, MandMDirect and Deichmann as well as its launch in eleven European markets since 2020, most recently in Romania and Czech Republic.
“It’s fantastic to see this sustained, phenomenal growth across Europe, with GMV up 14% in the region. While other, smaller players dial back their commitment or leave the region altogether, we’re doubling down, further strengthening our position in Europe, as well as the US,” said Sebastian Siemiatkowski, CEO, Klarna.
A recent Klarna survey revealed 74% of European customers use Klarna at least once a month, with trust coming out as the top reason for the choice followed by ease of payment. Best known for its Buy Now Pay Later products, Klarna’s instant debit option, Pay Now has been rolled out across all European markets, accounting for around a third of all transactions. This means consumers can pay in full immediately or pay over time when selecting Klarna at a retailers’ checkout.
With AI and ChatGPT continuing to dominate the discussion across industries the company has also been quick to take steps in the field. Earlier this year, Kalrna overhauled its shopping and payments app, and introduced a new AI-powered feed to help consumers find and resell items. The discovery shopping feed updates in real time with a range of personalised product recommendations and becomes increasingly tailored, as it learns more about the user’s preferences
Another highlight was its introduction of ‘Ask Klarna’, a personal shopping assistant to connect consumers with real experts for product advice via the app.
