Competitor Profile: Klarna 2024

Competitor Profile: Klarna 2024 Summary Klarna is a Swedish online payment services provider (PSP) that offers a range of buy now pay later (BNPL) solutions. Established in 2005, the company now serves over 150 million customers and is accepted by over 550,000 merchants across 45 countries. Klarna acquired SOFORT in 2014 and BillPay in 2017, turning it into one of the largest PSPs in the European ecommerce space. Klarna offers both immediate and pay-later options for ecommerce purchases, allowing customers to make payments after receiving the purchased items. It also offers an extended credit financing option through which users can make payments in monthly installments across up to 36 months. Klarna acts as a mediator between merchants and buyers and assumes the fraud and credit risk involved in transactions. To offer enhanced convenience, Klarna also offers an interest-free installment payment option, enabling customers to pay in three or four equal installments using a debit or credit card. As part of its inorganic growth strategy, Klarna continues to acquire new companies, which helps it enhance its product offerings for both consumers and merchants. In June 2021 alone, it made four acquisitions: HERO, APPRL, Inspirock, and Stocard. In April 2022, it completed the acquisition of PriceRunner, a Sweden-based price comparison platform. The report provides information and insights into Klarna including - - Detailed insight into its business - Comprehensive coverage of its products and services - Comparative assessment with key alternative payment solutions - Information on its revenue model and performance highlights - The company's important events and milestones Scope - In February 2005, Klarna was founded under the name Kreditor in Sweden. - In August 2017, Klarna launched P2P payment app Wavy in 31 European markets. - In March 2019, Karna partnered with Google Pay, enabling Klarna card holders in Sweden to make payments using Google Pay. - In February 2022, Klarna launched in Canada. - In January 2024,Klarna launched Klarna Plus, a subscription-based service in the US allowing users to double their rewards points and access special deals with popular brands. Reasons to Buy - Gain insights into Klarna business operations and key events. - Gain insights into its product portfolio, revenue model and performance highlights. - Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.