Europe's most valuable fintech startup Klarna sees surge in its revenues during coronavirus pandemic

Klarna, Europe’s most-valuable private fintech, has seen its top line swell during the global lockdown, as retailers and shoppers flock online.

Klarna is one of several ‘buy now, pay later’ companies that give customers the option to pay for online purchases belatedly, either in a single repayment or in instalments. This can help fuel retail sales and, in return, each new retailer pays Klarna an upfront contractual fee, as well as commission on each transaction (and loan).

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Klarna revenues surge during coronavirus | Sifted

Klarna, Europe's most-valuable private fintech, has seen its top line swell during the global lockdown, as retailers and shoppers flock online. Klarna's commercial vice president, Luke Griffiths, told Sifted in an interview that the Swedish 'buy now, pay later' (BNPL) provider had profited from the disruption of recent months.