Klarna has announced its latest figures showing sustained growth both in the UK and globally. The year on year global volumes and revenue increased by 32 per cent and 31 per cent respectively while the volume processed now amounts to over USD 35 billion.
Since launch, over 7 million customers have now used Klarna in the UK, an increase of 2x compared to last year. Over the past 12 months, a new Klarna order was made every 1.3 seconds and over 1.6 million UK customers have downloaded the Klarna app to date. In the last 6 months of 2019, an average of over 88,000 new UK customers a week chose Klarna’s Pay later services at checkout.
Klarna currently has more than 5,000 live merchants in the UK, including River Island, ASOS, JD Sports, Gymshark, Made.com, Oliver Bonas, Boohoo Group, Missguided and Topshop as well as Cult Beauty, RayBan, Olivia Rubin, Wayfair, Space NK, Swarovski, Tessuti, Michael Kors, Dr Martens, UGG, In the Style, H&M and H&M Group – COS, &other stories and Arket. This figure also includes over 500 UK brands who have launched in-store offerings with Klarna in 2019, including high-street giants Schuh, Thomas Sabo and Halfords.
Klarna is Europe’s most valuable private fintech company, valued at USD 5.5 billion in 2019. This valuation ranks it among the world’s top privately held fintech unicorns. Globally, Klarna partners with over 200,000 merchants, adding 75,000 during 2019, and has been used by over 85 million customers and processes over 1 million transactions a day on the platform. More than 11 million customers use the Klara app on a monthly basis globally, with an average of 37,000 new app downloads every day.
Klarna is now live across 17 markets, having most recently launched in Australia. Klarna employs over 2,700 people worldwide, 120 of whom are based in the UK spread across its two offices, London and Manchester.
Commenting on the figures, Luke Griffiths, General Manager at Klarna UK, said: “These landmark numbers are testament to the enduring growth we have achieved, by offering customers newfound financial flexibility, enabling shoppers to get what they love, as well as remaining dedicated to our merchant partners across the country.
“The UK statistics are reflective of our global growth story, as we continue to pursue our mission to make shopping simple, safe and smooth, for both consumers and retailers.”