Klarna publishes first quarter results - January - March 2021
May 28, 2021 – Today, Klarna Bank AB (publ) (“Klarna”) publishes its financial update for January 1 – March 31, 2021. The full report is available at www.klarna.com.
Klarna’s scalable global model goes from strength to strength as consumers choosing to shop, pay and bank on its intuitive platform drives growth across all markets and another record month of global GMV in March. Once again, the US continues to be a strong growth market as awareness and adoption of Klarna increases through successful marketing campaigns and strong retailer partnerships.
Selected highlights from the period
- Global GMV of USD 18.9bn/SEK 157bn1 (2020: USD 9.9bn/SEK 97bn) was driven by growth in all markets and exceptional momentum in the US.
- With over 90 million global active users and 2 million transactions a day, Klarna is meeting the changing demands of consumers who want to shop, pay and bank on one intuitive platform and with one trusted brand. March 2021 represented yet another record month for global shopping volumes with USD 6.9bn/SEK 57.6bn of purchases made through the Klarna platform.
- US consumers using Klarna more than doubled yoy, to 17m in April 2021.
- Klarna is now live with 24 of the top 100 US retailers, more than any of its competitors, illustrating our position as the global shopping partner of choice.
- US app downloads increased 125% YoY2, propelling record GMV through the Klarna US app in March 2021.
- Klarna’s customer obsession drives greater engagement and loyalty with global downloads of the app more than twice that of Klarna’s closest competitor.3
- In March, Klarna completed a USD 1 billion funding round to accelerate international expansion and further capture global retail growth. The round closed at a post-money valuation of USD 31 billion.
- Plans to launch in new markets in 2021 are well advanced, with Klarna going live in New Zealand in May and further key markets to be announced shortly.
- Klarna is committed to driving positive change for people and the planet. We want to become part of the solution when it comes to global challenges such as financial anxiety, inequality, and the deteriorating health of the planet. During the quarter, Klarna outlined its new ESG strategy focusing on three pillars: planet health, diversity and inclusion, and financial wellness, with its Give One program, focused on creating positive environmental impacts launched on Earth Day.
1 Klarna’s results are reported in SEK. To arrive at USD values, the average exchange rates for January to March 2021 have been used. 1USD equals approximately 8.39SEK. K. For 2020, 1 USD equals approximately 9.7 SEK for the first three months 2020.
2 AppAnnie, 2021
3 AppAnnie, 2021
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We make shopping smooth. With Klarna consumers can buy now and pay later, so they can get what they love today. Klarna’s offering to consumers and retailers include payments, social shopping, and personal finances. Over 250,000 retail partners, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna’s innovative shopping experience online and in-store. Klarna is one of the most highly valued private fintechs globally with a valuation of $31 billion. Klarna was founded in 2005, has over 4,000 employees and is active in 17 countries. For more information, visit klarna.com.