Klarna sees BNPL boost with UK leading European growth

Klarna has hit 100 million European customers after a rise in shoppers using its ‘buy now, pay later’ loans. 

The UK is leading its European growth with the value of goods sold through Klarna jumping 26 per cent in the UK and 14 per cent across Europe in the second quarter of 2023, compared with the previous year.

Across Europe Klarna now has over 100 million European customers and over 470k merchant partners. In the UK, Klarna now has 18 million customers and over 31,000 merchant partnerships.

Gross merchandising volume growth was driven in part by expansion into new sectors, Klarna says, with more older users with the average age of Klarna customers now 36, up from 33 in 2021.

“It’s fantastic to see this sustained, phenomenal growth across Europe, with GMV up 14 percent in the region,” Klarna’s CEO, Sebastian Siemiatkowski, said. 

"While other, smaller players dial back their commitment or leave the region altogether, we’re doubling down, further strengthening our position in Europe, as well as the US.” Siemiatkowski added.

Klarna, currently beating a path back to profitability after investing in growth for a number of years, says it has over 150 million global active users making two million transactions per day and 500,000 global retailers using its services.