"According to Klarna's Form F-1 filing with the U.S. Securities and Exchange Commission (SEC), the company's key metrics include: Gross merchandise volume (GMV) of $105 billion in 2024 (up from a GVM of $53 billion in 2020). Operations in 26 global markets. 93 million active consumers. A network of 675,000 merchants. $2.8 billion in total revenue in 2024 (up from $2.2 billion in total revenue in 2023). Net profit of $21 million in 2024 (up from a net loss of $244 million in 2023)."
"But while BNPL services allow consumers to fund purchases they may not otherwise be able to afford upfront, the financing option has been met with much criticism, one of the biggest ones being that BNPL can be a debt trap to consumers, particularly younger Gen Z ones who don't have a lot of experience in financial planning or literacy."
Klarna Group is a Swedish fintech founded in 2005 and headquartered in Stockholm. Klarna offers buy now, pay later (BNPL) services that let consumers pay in interest-free installments when payments are made on time. BNPL use expanded rapidly but has faced criticism for potentially creating debt traps, especially among younger consumers with limited financial literacy. Klarna reported $105 billion GMV in 2024, operations in 26 markets, 93 million active consumers, 675,000 merchant partners, $2.8 billion revenue, and a $21 million net profit in 2024. Klarna announced IPO plans in March, postponed amid market disruption, and proceeded with public offering preparations this month.
Read at Fast Company
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