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Klarna Checkout now supports American Express

Press Releases   •   Sep 29, 2015 09:01 GMT

Klarna and American Express® announce partnership to enable millions of American Express members to shop through Klarna Checkout.

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Klarna Launches in U.S. with Overstock.com as First Major Retail Partner

Press Releases   •   Sep 01, 2015 12:18 GMT

Klarna, Europe’s leading payment solutions providers, today announced the official launch of commercial operations in the U.S. with Overstock.com as its first major retail partner. According to Overstock.com, this partnership will bring a simplified buying experience on mobile devices, enabling Overstock.com shoppers the ease of buying from their smartphone or tablet with just one tap.

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Michael Rouse Joins Klarna as Chief Commercial Officer

Press Releases   •   Jun 15, 2015 07:48 GMT

Klarna has hired Michael Rouse, a former American Express executive, as its chief commercial officer. He will oversee new business development, revenue management and global partnerships and solutions. The hiring of Rouse is a reflection of Klarna’s global ambition and dedication to consumer loyalty as it prepares to enter the U.S. market.

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Klarna and Tradera (eBay Sweden) launch marketplace solution for consumer-to-consumer payments

Press Releases   •   Feb 06, 2015 10:02 GMT

Klarna launches its payment solution for trade between individuals on the Tradera marketplace (eBay Sweden). Consumer-to-consumer sales account for 80 percent of the marketplace’s annual turnover of 1.6 billion SEK. Earlier this year, Klarna successfully launched the solution for commercial sellers on Tradera.

“Tradera is the largest Nordic online marketplace visited by more than 1.3 million consumers monthly. We extend the life of clothing, shoes and gadgets – for the benefit of buyers, sellers and the environment. As the first online marketplace in the world, we now give individuals payment tools solutions that were only accessible to e-commerce professionals – making it safer and simpler to shop,” says Stefan Öberg, CEO Tradera.

With the Tradera announcement, Klarna enters a new segment and will look to revolutionize payments between consumer buyers and sellers in the same way as it has done for e-commerce over the past ten years. This is the first time a payment solution allows individuals to trade on the same secure terms as commercial sellers. It is also a great opportunity for Klarna since Tradera’s annual turnover amounts to approximately 1.6 billion SEK per year.

Consumer-to-consumer transactions can seem insecure and cumbersome. Trust and communication issues can surround payments. Additionally, buyers may be concerned that the item they purchased does not match the description by the seller. Both of these problems are alleviated with the introduction of Klarna’s marketplace solution on Tradera. Sellers are guaranteed payment into their bank account, and in 90 percent of cases, the seller gets paid the day after the buyer completes the checkout. For buyers, Klarna’s solution allows them to get the goods before they pay. With Klarna, buyers can pay using invoice or installment plans, credit cards and internet bank transfer.

“We want to make it simple and safe to shop. We have done this for e-retailers for nearly ten years and now we are doing the same for individuals in the marketplace,” says Sebastian Siemiatkowski, CEO Klarna.

Klarna was founded in Stockholm in 2005 with the idea of simplifying buying. We do this by letting the consumer receive the goods first and pay afterwards, while we assume the credit and fraud risks for the merchants. Today, Klarna is one of Europe’s fastest growing companies. 

In 2014 we joined forces with SOFORT and formed Klarna Group, the leading European payment provider. Klarna Group has more than 1200 employees and is active on 18 markets. We serve 35 million consumers and work with 50 000 merchants. Our goal is to become the world’s favorite way to buy.

Tradera is one of Sweden’s most visited online market places with more than 4 million unique visitors a month. With a wide variety of both new and used items, ranging from children's clothing to home furnishings and consumer electronics, Tradera has approximately 1.4 million products are for sale. Since 2006 Tradera is owned by eBay.

Klarna launches its payment solution for trade between individuals on the Tradera marketplace (eBay Sweden). Consumer-to-consumer sales account for 80 percent of the marketplace’s annual turnover of 1.6 billion SEK. Earlier this year, Klarna successfully launched the solution for commercial sellers on Tradera.

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KLARNA TO EXPAND PAYMENTS SOLUTION TO U.S.

Press Releases   •   Sep 19, 2014 10:08 GMT

Klarna Taps Executives from Alliance Data, PayPal and Apple to Complete Global Leadership

STOCKHOLM, September 19, 2014 Klarna, a Swedish e-commerce company focused on simplifying buying, today announced plans to expand to the U.S. market in early 2015. A well-known player in Europe for close to a decade, Klarna delivers a much needed payment solution for disenchanted online U.S. retailers and frustrated consumers alike.

To drive U.S. expansion, Klarna has recruited Brian Billingsley from Alliance Data as Chief Executive Officer of North America; former Bill Me Later and PayPal director Carol Hargrave as Chief Marketing Officer; and former Apple payments counsel, Jin Han, as Chief Legal Counsel for North America. Earlier U.S. recruitments include Chief Credit Officer Matthew Risley from Treliant Risk Advisors and Chief Financial Officer John Keatley from Green Dot Corporation.

“U.S. online retailers have grown disillusioned with existing payment solutions as the poor user experience has led to abandoned checkouts and lost sales for years. It’s common that 90 percent or more of consumers entering a mobile checkout do not complete their purchases”, said Brian Billingsley, CEO North America of Klarna. “Klarna has a very simple value proposition: We increase conversion at checkout and assume all the risk. Klarna doesn't win if the retailer doesn't win.”

“We founded Klarna with the vision to simplify buying online. By putting the consumer experience first, we can make the mobile a platform for shopping, and not just browsing”, said Sebastian Siemiatkowski, CEO and co-founder of Klarna. “Across Europe, retailers who use Klarna have seen increased mobile conversion from a few percentages to close to fifty percent on average. That translates directly into more sales for retailers. Now Klarna is extending that opportunity to the United States.”

At its core, Klarna increases simplicity and safety for consumers by separating buying from paying. A consumer making an online purchase enters only top-of-mind information like an email address and zip code to buy an item. From there, Klarna assumes all the risk from the purchase transaction, pays the retailer immediately, and collects the amount due from the consumer within 14 days. Consumers can settle the transaction with any preferred payment method. The process is made possible by Klarna’s proprietary risk assessment protocol. By using advanced data analytics and modeling, Klarna gives approved consumers a seamless buying experience and uses incremental identification to deter potential fraudsters.

“Klarna’s ‘buy now, pay later’ approach means consumers check out quickly and don’t have to pay until they’ve got the goods in their hands”, said Brian Billingsley, Klarna CEO of North America. “For retailers, this means more successful sales and a guarantee that they will get paid immediately, whether or not the consumer reimburses Klarna.”

Klarna has a proven track record in Europe to fuel its success in the United States, including more than 25 million users and 45,000 retailers including ASOS, Spotify and Zara. The company expects revenues of more than $300 million (approximately €250 million) in 2014 and is used for more than 200,000 transactions per day. It is forecasted to help retailers sell more than $9 billion (more than €7 billion) worth of goods this year.

The Klarna Checkout solution works across all platforms but increases conversion particularly on mobile. The average checkout conversion on mobile is between one and ten per cent, depending on industry and type of goods. For Klarna Checkout the equivalent conversion is about fifty percent.  

“The success Klarna has seen in Europe gives me confidence as we enter the U.S. market”, said Billingsley. “I believe our commitment to delivering a streamlined and simple way to buy will become the standard for the industry to follow.”

For more information about Klarna, please contact:

Erik Engellau-Nilsson, erik.engellau-nilsson@klarna.com, Head of Communication

Brian Billingsley, brian.billingsley@klarna.com, CEO North America

Media: press@klarna.com

Klarna was founded in Stockholm in 2005 with the idea of simplifying buying. Klarna Group has more than 1,200 employees and is active on 18 markets. We serve 35 million consumers and work with 50,000 retailers. Our investors include Sequoia Capital, General Atlantic, DST and Atomico. Our goal is to become the world’s favorite way to buy.

Klarna, a Swedish e-commerce company focused on simplifying buying, today announced plans to expand to the U.S. market in early 2015. A well-known player in Europe for close to a decade, Klarna delivers a much needed payment solution for disenchanted online U.S. retailers and frustrated consumers alike.

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Jon Kamaluddin joins Board of Directors of Swedish payments company Klarna

Press Releases   •   Aug 18, 2014 06:36 GMT

Stockholm, 18th August 2014 – Klarna, the leading European payment provider, today announces that Jon Kamaluddin, former international director at the online retailer ASOS, joins Klarna’s Board of Directors.

“Klarna already works with many of the biggest retailers in Europe. I'm excited to be part of its mission to bring a high level of sophistication to the UK eCommerce market and reform our current broken mobile payments systems. Klarna is the solution I wish I'd had when I was at ASOS.” said Jon Kamaluddin.

Jon Kamaluddin was international director at ASOS from 2009 to 2013 after having spent five years as CFO. In his role as international director, Kamaluddin led ASOS global expansion, including the U.S., Russia, China, Germany, and Australia, which helped ASOS grow its overseas sales to almost 60 per cent of its overall sales. He also served as a member of ASOS Board of Directors.

Founded in Stockholm in 2005 and currently valued at around $1 billion, Klarna’s Checkout service allows consumers to make online purchases using only their e-mail address and postcode, with no unnecessary pre-registration or credit cards needed. Through its solution, Klarna allows retailers to experience checkout conversion rates of up to 80 per cent. It also allows consumers to have a product delivered before they have to pay for it.  

Klarna is active in 15 European countries and currently holds 10 per cent market share in greater Europe's $100 billion eCommerce market. Some 25 million customers have used the platform and 45,000 registered merchants, including Spotify, Vista Print, Marks & Spencer and ASOS in Germany, have benefited from the increased conversion rates it delivers.

“ASOS has done for ecommerce what the Beatles did for pop and Jon is a rock star. Jon brings a wealth of consumer business experience alongside a proven track record in successful geographical expansion. He’s the perfect fit for our future ambitions and we couldn’t be happier.” said Sebastian Siemiatkowski, CEO and co-founder of Klarna.

The board currently consists of 8 members, including Sir Michael Moritz of Sequoia Capital.

Klarna recently launched its flagship product Klarna Checkout in the UK. After a soft launch with retailer Fitnessguru, it is now widely available to UK retailers.

Klarna was founded in Stockholm in 2005 with the idea of simplifying buying. We do this by letting the consumer receive the goods first and pay afterwards, while we assume the credit and fraud risks for the merchants. Today, Klarna is one of Europe’s fastest growing companies. 

In 2014 we joined forces with SOFORT and formed Klarna Group, the leading European payment provider. Klarna Group has more than 1200 employees and is active on 18 markets. We serve 35 million consumers and work with 50 000 merchants. Our goal is to become the world’s favorite way to buy.

Klarna, the leading European payment provider, today announces that Jon Kamaluddin, former international director at the online retailer ASOS, joins Klarna’s Board of Directors.

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Klarna raises €90 million for acquisition of SOFORT

Press Releases   •   Mar 14, 2014 14:22 GMT

Klarna today announced it has raised €90 million from its investors, in order to finance the acquisition of SOFORT. The fundraising was led by Klarna’s founders, with participation from existing investors like Sequoia Capital, General Atlantic and Atomico.

“This additional funding is a vote of confidence in Klarna’s long term vision to become the world’s favorite way to buy. Together with SOFORT we are the leading European alternative payment provider and we will now further accelerate our growth. We are very proud that our existing investors continue to support Klarna in this way”, said Sebastian Siemiatkowski, CEO and co-founder of Klarna.

The acquisition of SOFORT was completed in early March, when the two companies formed Klarna Group, Europe’s leading alternative online payments provider. Klarna Group’s services are used by over 25 million consumers and 45 000 online retailers across 14 European countries. Klarna Group has processed more than 140 million transactions.

Klarna was founded in Stockholm in 2005 with the idea of simplifying buying. We do this by letting the consumer receive the goods first and pay afterwards, while we assume the credit and fraud risks for the merchants. Today, Klarna is one of Europe’s fastest growing companies. 

In 2014 we joined forces with SOFORT and formed Klarna Group, the leading European payment provider. Klarna Group has more than 1200 employees and is active on 18 markets. We serve 35 million consumers and work with 50 000 merchants. Our goal is to become the world’s favorite way to buy.

Klarna today announced it has raised €90 million from its investors, in order to finance the acquisition of SOFORT. The fundraising was led by Klarna’s founders, with participation from existing investors like Sequoia Capital, General Atlantic and Atomico.

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Klarna completes SOFORT acquisition

Press Releases   •   Mar 07, 2014 14:12 GMT

Klarna today announces the completion of the SOFORT acquisition as all conditions precedent for the closing have been fulfilled. The two companies will together form Klarna Group and become Europe’s leading alternative online payments provider.

·  Klarna Group’s services are used by over 25 million consumers and 45 000 online retailers across 14 European countries.

·  Klarna Group has processed over 140 million transactions.

·  Klarna Group can offer online merchants the payment alternatives most preferred by European consumers.

“We are excited to complete this acquisition and look forward to working together with SOFORT’s talented team. The Klarna Group will shape the future of online and mobile payments. Together we can accelerate growth and continue our journey toward being the world’s favorite way to buy”, said Sebastian Siemiatkowski, co-founder and CEO of Klarna.

Klarna was founded in Stockholm in 2005 with the idea of simplifying buying. We do this by letting the consumer receive the goods first and pay afterwards, while we assume the credit and fraud risks for the merchants. Today, Klarna is one of Europe’s fastest growing companies. 

In 2014 we joined forces with SOFORT and formed Klarna Group, the leading European payment provider. Klarna Group has more than 1200 employees and is active on 18 markets. We serve 35 million consumers and work with 50 000 merchants. Our goal is to become the world’s favorite way to buy.

Klarna today announces the completion of the SOFORT acquisition as all conditions precedent for the closing have been fulfilled. The two companies will together form Klarna Group and become Europe’s leading alternative online payments provider.

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Klarna and SOFORT join forces to become one of the leading independent European online payments providers

Press Releases   •   Dec 18, 2013 14:05 GMT

·  Complementary businesses unite to accelerate growth across all European markets

·  New group will combine payment alternatives preferred by more than half of German consumers

·  Merchants to benefit from a new leading European payment group

Stockholm, Sweden and Gauting, Germany, December 18, 2013 – The payment providers Klarna AB (“Klarna”) from Sweden and SOFORT AG (“SOFORT”) from Germany today announced that they will join forces. Klarna is acquiring SOFORT from the majority shareholder Reimann Investors. Both companies will continue to offer their products side by side and operate on stand-alone basis. 

Klarna and SOFORT combined will have a 10 percent share of the USD 100 billion e-commerce market in which they operate. Klarna is a leading online payment provider in the Nordic countries, and SOFORT is a leading player in Germany and Austria. Together they will offer their solutions in 14 European countries. The combined group will have 25 million users and partnerships with more than 50 percent of all German online merchants. In total, the group will work together with 43,000 online merchants.

The transaction is subject to approval by the Swedish Financial Supervisory Authority.

Sebastian Siemiatkowski, CEO and co-founder of Klarna, said:

“We are delighted to be given the opportunity to work together with the exceptional team at SOFORT. Together we have an incredible opportunity to provide the most trusted payment solution to our merchants and make it simpler and safer for consumers to shop online.”

Dr. Gerrit Seidel, CEO of SOFORT, said:

“SOFORT and Klarna supplement each other in our service offerings as well as in our growth ambitions. Together we are providing online merchants the opportunity to offer both popular payment methods out of one hand in Germany and to develop further product innovations. We also look forward to continuing to foster our position as an independent, banking-friendly payment solution.”

Dr. Michael Riemenschneider, representative of the previous majority shareholder Reimann Investors and Chairman of the Supervisory Board of SOFORT AG, said:

“We are very pleased with this combination, as Klarna and SOFORT together will become a leading European player with a footprint in 14 European countries. Both companies complement each other to the benefit of both merchants and consumers. We believe this newly established group has such an enormous potential to emerge as a leading European provider of online payments that it was a logical step for us to re-invest in this group.”

FOR FURTHER INFORMATION, PLEASE CONTACT:

Klarna

Erik Engellau-Nilsson
VP Communications

Tel.: +46 70 002 90 91

erik.engellau-nilsson@klarna.com

For German media:

Philipp Pudelko

Tel.: +49 152 225 73 154

philipp.pudelko@klarna.com

SOFORT

Thomas Doriath / Michaela Graßl
Tel.: +49 89 / 89 35 63 – 40
presse@sofort.com

About Klarna

Klarna offers safe and easy-to-use payment solutions to e-stores in Europe and was founded in 2005 with the ambition to make e-commerce safer and simpler. At the core of Klarna’s services is the concept of after delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes the credit and fraud risk for e-stores so that sellers can rest assured that they will always receive their money. Klarna’s vision is to enable trust and to offer a frictionless buying experience to buyers and sellers across the world. Today, Klarna’s payment solutions are integrated by more than 18,000 online shops in Sweden, Norway, Denmark, Finland, Germany, Austria and the Netherlands.

About SOFORT

With the payment system SOFORT Banking (in German speaking countries called, SOFORT Überweisung), SOFORT Überweisung Paycode and the online verification system SOFORT Ident, SOFORT AG offers innovative products for a secure payment of merchandise and digital goods on the Internet. With its product SOFORT Banking (SOFORT Überweisung) - an online banking based e-Banking service initiating a direct credit transfer - the company located in Gauting near Munich is the market leader amongst the direct credit transfer solutions in Germany. Over 25,000 e-commerce shops process more than 2.5 million transactions with SOFORT Banking (SOFORT Überweisung) per month. Apart from Germany, the service can also be used in Austria, Switzerland, Belgium, France, the Netherlands, United Kingdom, Italy, Spain and Poland. 


Klarna was founded in Stockholm in 2005 with the idea of simplifying buying. We do this by letting the consumer receive the goods first and pay afterwards, while we assume the credit and fraud risks for the merchants. Today, Klarna is one of Europe’s fastest growing companies. 

In 2014 we joined forces with SOFORT and formed Klarna Group, the leading European alternative payment provider. Klarna Group has more than 1000 employees and is active on 14 markets. We serve 25 million consumers and work with 45 000 merchants. Our goal is to become the world’s favorite way to buy.


• Complementary businesses unite to accelerate growth across all European markets • New group will combine payment alternatives preferred by more than half of German consumers • Merchants to benefit from a new leading European payment group

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Klarna awarded Most Innovative Company by GP Bullhound

Press Releases   •   May 23, 2013 13:37 GMT

At the yearly Media Momentum Awards arranged by the investment bank GP Bullhound, this year being held in Stockholm, Klarna was awarded ”Most Innovative Company”. For the second consecutive year, Niklas Adalberth, deputy CEO, received awards on Klarna's behalf.

GP Bullhound, a leading investment bank in tech, focused on Internet and digital media, software and greentech, raised Klarna as the most innovative Internet and e-commerce company in Europe when announcing the award.

­“We have put a lot of effort and energy in our new product Klarna Checkout to make it the best and
most innovative payments solution available for e-commerce on the market today. This award from GP Bullhound and all the positive reviews we get from both merchants and consumers shows that that we surely are on the right track”, says Niklas Adalberth, deputy CEO at Klarna.


Klarna was founded in Stockholm in 2005 with the idea of simplifying buying. We do this by letting the consumer receive the goods first and pay afterwards, while we assume the credit and fraud risks for the merchants. Today, Klarna is one of Europe’s fastest growing companies. 

In 2014 we joined forces with SOFORT and formed Klarna Group, the leading European alternative payment provider. Klarna Group has more than 1000 employees and is active on 14 markets. We serve 25 million consumers and work with 45 000 merchants. Our goal is to become the world’s favorite way to buy.


At the yearly Media Momentum Awards arranged by the investment bank GP Bullhound, this year being held in Stockholm, Klarna was awarded ”Most Innovative Company”. For the second consecutive year, Niklas Adalberth, deputy CEO, received awards on Klarna's behalf.

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About Klarna AB (publ)

Simplifying Buying

Klarna is one of Europe's fastest growing companies, and offers safe and easy-to-use payment solutions to 65,000 e-stores in Europe and North America such as Overstock.com, Spotify, Disney, Samsung, Wish and ASOS. At the core of Klarna's services is the concept of after-delivery payment, which lets buyers receive ordered goods before any payment is due. At the same time, Klarna assumes the credit and fraud risk for e-retailers so that sellers can rest assured that they will always receive their money. Klarna Group has more than 1,400 employees and is active on 18 markets. Our goal is to become the world’s favorite way to buy.

Address

  • Klarna AB (publ)
  • 629 N. High Street, Suite 300
  • 43215 Columbus, OH
  • USA