Dear visitor,
You're reading 1 of your 3 free news articles this quarter
Register with us for free to get unlimited news, dedicated newsletters, and access to 5 exclusive Premium articles designed to help you stay in the know.
Join the UK's leading credit and lending community in less than 60 seconds.
Klarna report net loan losses of more than double 2020
Buy now pay later (BNPL) firm Klarna reported net loan losses of $486.5m (£362m) from customers not repaying debt in their 2021 annual report – an increase of more than double from 2020.
Senior Journalist, covering the Credit Strategy and FSE News brands.
Senior Journalist, covering the Credit Strategy and FSE News brands.
The Sweden-based firm also saw an increase in year-on-year losses. They rocketed from 50% in 2020 to 304% in 2021.
Sebastian Siemiatkowski, chief executive and co-founder of Klarna, said this increase was “entirely explained by Klarna’s growth, expansion to new markets and massive inflow of new customers”.
The BNPL firm entered five new markets in 2021, including France. It also expanded its UK operations.
It made several acquisitions – including retail tech firm Hero, discount shopping platform Stocard and influencer marketing startup APPRL.
For Premium Members, there is an in-depth analysis of the full year results here.
Stay up-to-date with the latest articles from the Credit Strategy team
ENJOY READING?
Member of
Get the latest industry news
Permission Statement
