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Afterpay Headquarters: Melbourne, AustraliaĪfterpay is a BNPL company headquartered in Australia. So, without further ado, let’s take a closer look at the top 8 competitors of Klarna.ġ. Examples include savings banks, online banks, lending firms, e-wallets, and many other financial services.

Lastly, this analysis does not include indirect competitors of Klarna. Still, it continued to compete against it in the Netherlands, Germany, Austria, and Switzerland. In September 2017, for example, it completed the acquisition of the German company Billpay for $75 million. Therefore, competition in its shopping app, peer-to-peer transfer, and credit/payment card lines is not considered (although some below-listed companies also operate in those industries).Īdditionally, companies that Klarna (partially) owns are included as well. This analysis, to ensure comparability, only looks at the “buy now, pay later” competitors of Klarna. Information such as the revenue generated, the company’s funding, transaction volume, the number of employees, the number of partner merchants, the number of available countries, and anything else relevant is being taken into account. The methodology by which competitors of Klarna are ranked is based on various data points. That is down from the $45.6 billion value secured in 2021. Recently though, Klarna reported it raised $800 million in fresh funding from investors at a $6.7 billion valuation. With the company’s continuous expansion, reports say Klarna had over 4,000 employees. Klarna’s revenue peaked at $1.6 billion from more than $80 billion in transaction volume in 2021. With the company’s intensive penetration of the US market, they closed the year with 20 million active accounts in the country. Despite its success, it’s only in 2022 that Klarna reports to consider its IPO, with an estimated value of $50 billion.Ĭurrently available in 45 countries, Klarna recorded more than 147 million active users and 400,000 partner merchants in 2021. The company’s launch in the United States in 2015 was the platform’s breakthrough, establishing Klarna as one of Sweden’s five unicorn companies alongside Mojang, Spotify, King, and Skype. And after five years of operations, Sequoia invested in the company, making Klarna the first European tech startup to earn investment from the said company. It only took half a year before the company started to earn profits.

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With 600,000 euros at hand and five software developer partners, the founders proved that the concept behind Klarna is not at all impossible. Although the startup did not win the competition, the founders were able to secure enough funding to get the firm going.ĭespite the unfortunate outcome of Klarna’s business competition in Stockholm, the company was destined to succeed when a prominent Swedish investor, Jane Walerud, met Klarna’s founders at a networking event. At first, the founder of Klarna started the company in the hopes of winning an annual business competition held in Stockholm and acquiring enough capital. Klarna has grown a lot since its humble beginnings.

In case you're curious: this is how Klarna makes money

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Powered by Visa, the card lets holders pay for products and bills offline and overseas. Recently, the company has also launched the Klarna Card. Customers can also shop on third-party apps and pay with Klarna later. Klarna also provides a variety of credit terms, ranging from 14 days to three years, depending on the amount.Īlong with the “buy now, pay later” service, Klarna offers an in-app shopping page where customers can browse various goods from partner merchants. In addition, the company boasts of its interest-free service and promises no fee for late payments. Klarna, like many other BNPL platforms, allows users to divide loan payments into four installments. Upon choosing Klarna as the payment method, the item’s price will be paid by the customer in installments over their preferred period using their card, bank account, or other payment options. Customers can use Klarna to shop at third-party partner merchants and pay at the point of sale. If you’ve been paying attention to the financial world over the last few years, you’ve definitely heard of Klarna-the giant of installment payments in Europe. The company, headquartered in Stockholm, Sweden, was founded in 2005 by Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson. Klarna is a fintech company based in Sweden that is known for “buy now, pay later” (BNPL) services, peer-to-peer payments, and sending funds.

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