30 May 2023

Klarna halves losses

Written By FinTech Alliance in FinTech

Klarna halves losses

Company on track to return to profit before the end of 2023

IN BRIEF:

- Klarna’s first quarter results show the FinTech has halved its losses

- Net losses shrank to SKr1.3bn in the first quarter and credit losses decreased by over a third

- Klarna’s revenues also increased by 13% to SKr4.9bn

What does this mean?

Chief executive at Klarna, Sebastian Siemiatkowski commented: “We are on track to achieve profitability this year.” In February 2023, Klarna reported a $1 billion loss for 2022, btu their entry into the US market has marked growth for the company.

Read more here.

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