Klarna Launches Klarna Comparison Shopping Service across Europe


Klarna, a leading global retail bank, payments, and shopping service, today announced the launch of their new Comparison Shopping Service (CSS) in 21 markets. Klarna CSS offers Klarna’s partner retailers across Europe an increased customer reach and budget savings to boost their return on advertising spend and drive traffic from high shopping intent consumers. In addition, the Klarna comparison shopping page will provide new opportunities for brands to reach browsing consumers with their products.

David Sandström, Chief Marketing Officer at Klarna: “We are extremely excited to launch the Klarna Comparison Shopping Service today. With this new product, we enable retailers to list their Google Product Listings Ads more efficiently. Concretely, this means that we offer retailers a more effective and cheaper way to increase their customer reach and convert highly relevant traffic from consumers who are searching for products they want to purchase, thereby maximizing merchants’ return on advertising spend. As a growth partner for our retailers, we are thrilled to be launching even more products and services to support their strategy in the near future.”

This is how Klarna Comparison Shopping Service works

The CSS program was created by Google to diversify the search results for Product Listing Ads (PLA). A CSS partner can facilitate the publication of a PLA on Google and is then the link between the advertiser (the retailer) and Google. Unlike competitors, Klarna Comparison Shopping Service provides PLA hosting for a small flat monthly fee. By switching to Klarna CSS, retailers can save up to 20% on their Cost Per Click spend by avoiding a fee charged by Google CSS.

Klarna will also list a retailer’s product listing inventory on the Klarna comparison shopping web pages to further boost retailer product visibility and customer reach. Klarna’s new Comparison Shopping Service is available in AustriaBelgiumCzech RepublicDenmarkFinlandFranceGermanyGreeceHungaryIrelandItalyNetherlandsNorwayPolandPortugalRomaniaSlovakiaSpainSwedenSwitzerland, and the United Kingdom.


Klarna says “Salut!” to France with unique shopping experience


Klarna, the leading global payments provider, bank and shopping service, currently serving more than 250,000 retail partners and 90 million consumers globally, officially launches in France today by introducing “Pay in 3”. The Swedish fintech, founded in 2005, is now making its mark in a booming e-commerce market, with the ambition of revolutionizing the online shopping experience.

With the launch of “Pay in 3” (“Paiement en 3 fois”) French shoppers will be able to securely purchase their products from their favorite online stores and spread the cost of their purchase over three interest-free payments, charged every 30 days. Klarna is also introducing the Klarna app which offers consumers convenience, inspiration and value throughout the whole shopping journey. In the app, consumers will be able to see pictures of purchased items, keep track of and manage their payments, save favorite items to wish lists, receive price drop notifications on saved items as well as track their carbon emissions.

“The French retail and payments landscape is one of the fastest evolving markets in the world, as consumers embrace digital payments and online shopping at record pace. This is an exciting time to launch in France and I believe Klarna can really make a difference to French consumers, making it easy to shop and pay in a way that suits them – allowing them to take control of their money and purchases with complete security, transparency, with no interest and no hassle. We already work with leading French brands on a global level. I can’t wait to start working with more French retailers to help them grow their business both in France, and internationally”, said Sebastian Siemiatkowski, CEO and co-founder of Klarna.

“We are very excited to bring our shopping solutions to France. Our seamless online shopping experience for consumers combined with our global expertise from working with over 250,000 retailers will help French retailers meet consumers’ rapidly increasing demand for smarter, flexible and more personalized shopping experiences. We are absolutely focused on becoming French retailers preferred growth partner and help them build loyal and satisfied customers in the long term”, said Eric Petitfils, Head of Sales and Partnerships France at Klarna.

Klarna is launching in France at a time when online is gaining momentum. According to a study conducted by Kantar, 2.5 million new online shoppers were registered in the first half of 2020 and 30% of them want to repeat the experience. Online purchases in 2020 are estimated at €112 billion, an increase of 8.9% compared to 2019, and more than 17,400 additional e-commerce sites have already launched this year, according to recent data published by the Federation of e-commerce and distance selling (Fevad).

Klarna will set up shop with a local team and office in Paris adding to its European offices in Germany, the UK, the Nordics, the NetherlandsBelgiumSpain and Italy.


Safello Acquires Bitcoin.se – Sweden’s Leading Cryptocurrency Portal


Swedish fintech Safello continues its growth journey and announces that it has acquired Rational Money AB, the company behind Bitcoin.seSweden’s leading educational portal on cryptocurrencies.

For almost a decade, Bitcoin.se has played a vital role in informing and educating the Swedish public about topics related to cryptocurrencies and their surrounding ecosystem. Since 2012, the site has been the leading independent portal in Swedish for information, news and discussion about cryptocurrency, blockchain technology and economics.

In 2018, Bitcoin.se was introduced to the international audience with an English version. Behind the company is the founder David Hedqvist, one of Scandinavia’s foremost crypto evangelists, a Bitcoin enthusiast and board member of the Swedish Bitcoin Association. The journalistic integrity of Bitcoin.se will be safeguarded by David Hedqvist, who will remain as editor-in-chief and an active contributor.

“David has been a strong advocate for the Swedish cryptocurrency market. In the past, he led the court case that set the regulatory framework for cryptocurrencies on VAT for the EU, an effort Safello at the time sponsored. Our collaboration has extended over the years and we share the values and objectives of David and Bitcoin.se. We are excited for David to continue his journey together with Safello,” said Frank Schuil, CEO of Safello.

The acquisition comes after a successful partnership period between Safello and Bitcoin.se, where the latter has used Safello’s Partner Widget product. Bitcoin.se contributed to trades generating a significant part of Safello’s turnover during the past six months.

In connection with the Bitcoin.se acquisition, Safello is expecting to see significant synergies that are likely to increase Safello’s profitability and create opportunities for new customer generation and continued growth.

“After 9 years as a one-man project I felt that Bitcoin.se deserved to be taken to the next level, but it was important to me that it was done in a way that didn’t compromise on its core values. My relation with Safello over the last few years has been one of mutual respect and I’m convinced that they are just the right company to take on the task,” said David Hedqvist, founder of Bitcoin.se and CEO of Rational Money AB.

The news comes on the heels of a recent announcement about several industry veterans’ appointment to Safello’s Board of Directors. Christina Ploom has previously served as COO at Spotlight Stock Market and has had leading positions at Nasdaq and Sweden’s Financial Supervisory Authority, Finansinspektionen. Johan Lorenzen is the former CEO of Holvi and long term fintech investor. Knut Pedersen is the former President and CEO of Catella and Managing Partner at ABG Sundal Collier AB.

Safello, backed by reputable investors, including Digital Currency Group (DCG)Northzone and White Star Capital, is in full swing with its plans to be listed on the Nasdaq First North Growth Market during Q2 2021. Recently, the company announced a strategic partnership with Klarna and a handful of key recruitments, including Johan Edin as Chief Financial Officer and Swedish crypto profile Gina Pari as Client Director.


Klarna expands Open Banking solution to 8 more European markets

Klarna, the leading global payments and shopping service, today announces the expansion of its leading Open Banking solution across eight more European countries, including  PortugalDenmarkLuxembourgIrelandCroatiaEstoniaLithuania and Latvia. Klarna provides the largest open banking network in Europe, supporting a total of 24 countries in the continent, with up to 99% and a minimum of 90% bank coverage across markets.

Klarna’s Open Banking solution which today processes more than 150m+ transactions per year, offers third party providers simplified access to consumer bank account data via `Account information’ (AIS) and `Payment initiation’ (PIS) services in line with Payment Services Directives (PSD2). The secure solution allows consumers, wishing to elevate the potential of their financial data, to better understand and engage with their finances in a more meaningful way.

As part of the latest expansion, Klarna also introduces `Account Insights’ a powerful new solution that turns simple bank statements into unique insights through categorization and data enrichment. These insights can enable a variety of use cases including personalized budget plans, insurance checks, loan applications, credit- & risk assessments, personal finance management applications, and many more, all through a simple API integration.

“Since we launched our Open Banking Offering in March 2019 our growth trajectory has been tremendous. That’s why we’re excited to launch in 8 more markets today and expand our product offering even further, as we continue to lead Europe’s Open Banking industry covering more than 6.000 banks across 24 countries. The ability to empower consumers through financial data should not be at the discretion of a single provider but open to many providers so that more solutions can be developed that put the customer at the centre of their personal finances,” says Koen Köppen, Klarnas Chief Technology Officer.

Klarna’s XS2A API is the most established and proven solution that has been developed at scale across markets for more than 15 years. Across markets, Klarna has a superior PIS conversion rate from the login to successful completion of the flow. The Klarna Open Banking Platform also provides developer friendly tools and technical solutions to help solve both the compliance and UX aspects of managing credentials and to overall help drive an accelerated time to market for products while minimizing costs and technological investments required.

Note to editor:

Open banking market availability in EuropeAustriaBelgiumCroatiaCzech RepublicDenmarkEstoniaFinlandFranceGermanyHungaryItaly,LatviaLithuaniaLuxembourgthe NetherlandsNorwayPolandPortugalSlovakiaSpainSwedenSwitzerlandIreland, and the UK.


Klarna Q1-Q4 2020 Financial Report


Today, Klarna Bank AB (publ) (“Klarna”) publishes its Annual financial statement release for July – December 2020, and the full Q1-Q4 of 2020.

Our strong results for 2020 were driven by rapidly accelerating momentum in the US, entry into four new markets, and growing consumer and merchant preference for Klarna’s elevated shopping experience and strong brand. New product launches including savings accounts in Sweden, current accounts in Germany and Klarna’s Vibe loyalty program in the US and Australia enhanced consumer acquisition and retention, and drove adoption of the Klarna app to a record 18 million monthly global users(1).

Full year January to December 2020

Record gross merchandise volume with total net operating income breaking USD 1 billion

  • Record Gross Merchandise Volume was achieved across the Klarna platform, up 46% to USD 53bn / SEK 484bn (2019: USD 35bn/SEK 332bn)(2) as Klarna continues to connect retailers with consumers for a superior shopping experience
  • 40% increase in Total Net Operating Income to USD 1.087bn / SEK 10bn (2019: USD 753m / SEK 7.155bn), breaking the $1 billion threshold for the first time.
  • Strong capital position with CET1 Ratio at 29.5% (2019: 28.1%)
  • Credit losses as a percentage of gross merchandise volume have fallen across all major markets as consumers adopt the benefits of pay later, and our risk models continue to mature.
  • Klarna is well positioned to capture global growth in the retail market and continues to invest significantly in new market entries and expanded product offerings on that basis. Net profit was lower in line with expectations as operating expenses increased to deliver ambitious expansion by building significant scale in the US and other major markets, and launching our pay later offering in four new markets: AustraliaBelgiumSpain and Italy. Four further market launches are planned for 2021.

Growing retailer and consumer connections globally, through one platform in 17 markets

  • 87 million global active consumers chose Klarna as the preferred platform to shop, pay and bank in 2020. Consumers’ demand for convenience, flexibility and products that serve them better continue to drive the global shift from credit to debit.
  • With one platform and one recognisable brand in 17 markets, Klarna is now the global partner of choice for 250,000+ retailers.
  • Klarna in-store is now live in 10 markets, enabling consumers to use Klarna everywhere while delivering a seamless multichannel experience for retailers. US consumers can now shop in over 60,000 physical stores, while in Australia, Klarna is available in any store through the app.
  • As well as a superior online and in-store experience, Klarna makes new connections between consumers and retailers, and in December alone, Klarna delivered 22 million clicks to retailers in the US.
  • We have also established a presence in China to support retail partners scaling to a global consumer base with Klarna.

Accelerated growth in the US

  • Momentum in the US accelerated rapidly with a million consumers a month added during the key shopping period in Q4 2020, with 15 million consumers choosing to shop with Klarna by January 2021. Klarna is the partner of choice for 20 of the US top 100 retailers.
  • At the close of Q4, Klarna was ranked in the Top 10 most downloaded shopping apps in US app stores for the entire period.
  • Several renowned brands have joined Klarna’s US retail network, including Macy’s, Etsy, Sephora, Saks OFF 5TH, Lululemon, Bluemercury, Rebecca Minkoff and Pandora, bringing the total number of retail partners to more than 6,000.

Driving customer satisfaction in 2021 and beyond

  • Consumer satisfaction is driving customer acquisition and retention, with US consumer NPS at 80+, well above financial services benchmark of +34(3).
  • Vibe, the first loyalty program of its kind in our industry, is now live in the US and Australia, and rewards consumers who pay for their goods on time. The program gained immediate traction, attracting one million members during the first three months. Vibe will expand to further markets in 2021.
  • The global platform KlarnaSense, encouraging more mindful shopping, has resonated strongly with consumers and will be launched across markets in 2021.

Sebastian Siemiatkoski, Klarna co-founder and CEO commented: “The last year has created unprecedented change in the global economy which has transformed how consumers bank, shop and pay. Klarna has adapted well, supporting retailers to move online at pace while continuing to provide consumers with superior shopping experiences and payment options that meet their evolving needs. 2020 has not slowed Klarna’s progress: we scaled to four new markets, broadened our platform to an integrated banking offering in Sweden and Germany, and truly accelerated our growth in the US, where we added 1 million new consumers per month in the last quarter. 

“2021 is going to be another year of change as consumers will slowly return to stores expecting to see the flexibility they have become accustomed to reflected in the brick-and-mortar experience. Klarna will continue to innovate across channels, geographies and verticals to provide consumers with the transparency, control and flexibility they now demand from banking, shopping and payments, while supporting our partners in their growth ambitions.”

The full report is available at www.klarna.com

For additional information, please contact:
Aoife Houlihan, VP of Communications
Phone: +46 (0) 72855 8047
Email: [email protected]  / [email protected]

(1) Global active monthly app users

(2) Klarna’s results are reported in SEK. To arrive at USD values, the average exchange rates for 2019 and 2020 have been used. 1USD equals approximately 9.5SEK for full year 2019 and 9.2 SEK for full year 2020.

(3) Retently, 2020


Klarna launches bank account in Germany


Klarna, the leading global payment and shopping service, is launching consumer bank accounts in Germany, with the aim to provide them with further control of their finances. The launch marks a first for the company and will allow customers to easily track, categorize and analyze all of their everyday spending using the Klarna app. A Klarna bank account will come with a Visa debit card which can also be connected to both Google Pay and Apple Pay. The offering will exclusively be made available to a limited number of Klarna’s most loyal consumers to intensively collect and integrate feedback before gradually rolling out to all Klarna users in Germany in the coming months.

With this new product, Klarna provides its consumers with a full Klarna end-to-end experience that puts consumers first: From shopping to keeping track, managing and predicting one’s spendings, the Klarna app enables consumers to have all their finances in one place. In future, German consumers will also be able to set savings goals and benefit from Klarna’s savings accounts product in the Klarna app, which was launched earlier this year in Sweden.

Sebastian Siemiatkowski, CEO of Klarna said, “Our focus is to provide a superior shopping experience to our consumers at the intersection of retail and banking. And we know that there’s still massive room for improvement to the way many people bank and save their money today. Users are demanding more seamless, intuitive and transparent services to meet their daily needs, but many banks still do not cater for this. We are very excited to introduce Klarna Banking today, bundling shopping and banking in one app and allowing our consumers to bank in the same seamless way as they shop with Klarna.” 

Companies in the financial sector, especially traditional banks, have so far had to struggle with the changes brought about by digitization. According to current figures from the Deutsche Bundesbank, the number of bank branches has fallen back to the level of the 1950s. A study by Bitkom from 2019 shows that 7 out of 10 German citizens do their banking on the internet and that digital offers from their bank are more important than a well-known brand. This development shows an increasing change, which becomes manifest especially in the needs of the customers.

The Klarna Bank Account at a glance

  • Self-service sign up with an own developed KYC process called Klarna Ident. Video identification possible, but not necessary.
  • 3-click transfers and instant top-ups – money never more than a tip-tap away.
  • Smart Budgeting – make monthly budgets for full transparency over spendings across purchase categories.
  • Klarna Bank Card – The account includes a Visa debit card, which can be individually selected with the distinctive Klarna card design, available in two colours.
  • Cash withdrawals can be made at all ATMs – free of charge 2 times a month. Even abroad.
  • The card can be connected to both Apple Pay and Google Pay.
  • Direct debit payments or bank transfers available for all 36 countries of the SEPA area.
  • 24/7 Customer Service (Phone, chat).
  • The account is secured by biometric recognition data, including facial recognition and fingerprints.
  • No charge to open an account or account running fees
  • Option of real-time app push notifications of all account activity.

Opening a Klarna bank account can easily be done in the Klarna App. Customer service is available over the phone or in the Klarna App through a chat, and helps with all questions and concerns regarding the account.


Checkout.com Triples Valuation to $15bn with $450m Series C Fundraise, Accelerating Global Expansion


Checkout.com, the leading Connected Payments™ solutions provider, today announced that it closed a $450 million Series C fundraising round. This gives the business a post-money valuation of $15 billion, making it the fourth largest fintech globally and EMEA’s most valuable venture-backed business(1), as the business continues to expand across the globe.

The Series C was led by Tiger Global Management, LLC, a New York-based technology investor that partners with dynamic entrepreneurs operating market-leading growth companies, including Facebook, LinkedIn, Spotify, ByteDance, and JD.com. Greenoaks Capital also joined the round along with participation from existing investors Insight Partners, DST Global, Coatue Management, Blossom Capital, Endeavor Catalyst, and Singapore’s Sovereign Wealth Fund GIC.

Guillaume Pousaz, CEO and Founder of Checkout.com said: “Payments affect everything from the customer journey to a business’s ability to enter new markets or launch new products. This latest fundraise reflects our market-leading position and the size of our aspirations as we accelerate in our mission to empower merchants to build better products, drive more revenue and create innovative business models by reimagining interactions with financial services. Our new investors bring a wealth of experience across payments, technology and scaling companies – crucial knowledge for the next stage of our growth, as we continue to build our vision for the future of Connected Finance™.”

Investing in the Future of Payments

Research from McKinsey & Company highlights the scale of the payments opportunity, with total global payments revenue reaching just under $2 trillion in 2019(2). Meanwhile a recent report from Checkout.com in partnership with Oxford Economics(3) revealed the scale of the challenge that many merchants face, with $20.3 billion lost to false declines in payments in 2019 alone and more than $12.7 billion handed from first choice merchants to their competitors. Additionally, customers who gave up on their intended online purchase completely resulted in more than $7.6 billion of missed opportunity for merchants. Checkout.com addresses these issues by giving enterprise businesses the most proactive tools to drive best-in-class performance and more control through advanced data features, fraud management tools, and comprehensive reporting.

The fundraise comes as the global economy looks beyond the COVID-19 pandemic. While many organizations have historically relied on one-size-fits all payment systems, the need to drive improved performance, gain transparency across payments and extract valuable information from data is increasingly becoming a competitive differentiator. Checkout.com’s cloud-based unified platform enables merchants to manage payins and payouts at scale, while achieving better performance and improved acceptance rates globally. Leading ecommerce businesses such as Farfetch, Mango, Victoria’s Secret, L’Occitane and The Hut Group depend on Checkout.com for a fast, reliable, adaptable and safe platform that gives granular access to the data and pricing behind every transaction.

While Checkout.com’s profits from current operations will continue to be reinvested to power future growth, the new funding will be used to further grow its balance sheet and drive new innovative opportunities. With a total of $830 million raised within the last two years, Checkout.com’s readily available cash represents one of the strongest balance sheets across all global fintechs. This further strengthens the company’s resilience as a regulated entity in numerous markets and as the financial partner to its merchants. It also allows for continued strategic investments and product developments, like the Checkout.com Payouts solution which saw exponential growth over the last year.

Checkout.com Unveils North American Headquarters

In addition to today’s Series C funding announcement, Checkout.com is announcing the opening of its New York City office. The company first launched in the U.S. in 2017 and has operations in San Francisco. Together, the bicoastal offices will power the organization’s ability to meet the growing demand in the U.S. for Connected Payments™ solutions, as Checkout.com increases its focus on serving U.S.-based enterprises in domestic, global and cross-border payments. The company is also announcing an office in Denver. Globally, Checkout.com will hire an additional 700 people across all its locations  in 2021.

Checkout.com’s transformative approach to payments and payouts has garnered its reputation as the most trusted technology provider behind many of the most valuable fintechs and cutting-edge businesses, including Klarna, Revolut, Transferwise, Coinbase, and eToro. With a platform that can support both best-performing global payments and payouts, Checkout.com has become the backbone of the world-beating progressive business models, among the leading fintechs, streaming services, and marketplaces.

Scott Shleifer, Partner at Tiger Global Management said: “We are excited to partner with Guillaume and Checkout.com as they continue to build an innovative global payments and financial services platform trusted by leading internet companies. We believe the shift to digital commerce is still in the early stages, and Checkout.com’s focus on developing a best-in-class technology platform has positioned them to be a leader in the industry for years to come.”

In June 2020, Checkout.com announced its Series B which valued the business at $5.5bn and was led by technology fund Coatue Management. In 2020, it also announced the acquisitions of ProcessOut and PinPayments, as well as a strategic investment in Thunes.