The US is now Klarna’s biggest market

By Amelia Isaacs on Monday 16 January 2023

Alternative Lending

The US has overtaken Germany as the BNPL’s largest market.

The US is now Klarna’s biggest market
Image source: Sebastian Siemiatkowski/Klarna.

Klarna seems to be kicking off the year on a high note as the US overtakes Germany as its largest market by revenue.

The Swedish ‘buy now, pay later’ (BNPL) had a bit of a rocky 2022, to say the least, with losses tripling in the first half of the year, valuation cuts and layoffs.

It ended the year on more of an uptick though, forecasting that in the second half of 2023, it would see itself back into the monthly profits it saw in 2019.

After the last few years of investing heavily in its US growth, the US is now the BNPL giant’s largest market, having overtaken Germany.

CEO Sebastian Siemiatkowski shared the news on Twitter last Friday.

“And it is official! US is finally Klarnas largest market by revenue followed by Germany,” Siemiatkowski wrote.

“Tremendous growth despite challenging macro.”

Klarna now has 22,000 retailers, 32 million consumers, 30 million app downloads and eight million people using the Klarna app every month in the US. 

Worldwide, Klarna has more than 450,000 merchants, 150 million active consumers and sees two million transactions every day across 45 countries.

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