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Klarna’s US Growth Soars with GMV Up Nearly 50% YOY in Q3

November 6, 2023




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Q3 marks the company’s fourth consecutive quarter of gross profit in the US, driven by surging consumer and retailer demand for Klarna’s AI-driven payments and shopping services 

New York, NY – November 6, 2023 – Klarna, the AI powered global payments network and shopping assistant, today announced its continued momentum in the US market with several noteworthy achievements in Q3 2023 – its fourth consecutive quarter of gross profit in the market – including a 46% YOY rise in GMV and 28% improvement in credit loss rates. This growth is fueled by increasing adoption and demand for Klarna’s increasingly diverse, AI-driven product suite among US consumers and retailers. Today, Klarna reaches over 37 million consumers (32% YOY growth) and 26,000 retail partners (38% YOY growth), including Macy’s, Nike, Airbnb, StubHub, Instacart, and more.

“Even in a challenging and evolving economic environment, Klarna’s success in the US continues, marked by double-digit YOY GMV growth in Q3, 37 million+ consumers, and a rapidly expanding retailer network,” said Sebastian Siemiatkowski, CEO, Klarna. “Klarna’s strength in the US is fuelled by growing demand for our fair and flexible payments products, with over 99% of our US consumers finding it helpful for avoiding higher risk, interest-bearing credit options1. Additionally, our growth is significantly propelled by the popularity of our expanding AI-driven services including in the Klarna App, which now boasts over 7M users in the US.”

While Klarna is recognized as a pioneer of transparent, interest-free BNPL services, the company continues to evolve its range of products to cover all phases of the shopping journey, from discovery to checkout. Today, Klarna offers US consumers a suite of fair, flexible payment options enabling them to pay now, pay later, or pay over time; along with several shopping services including the Klarna App, which has been unbeaten as the #1 BNPL app in the US2 and has become a go-to shopping destination for over 7 million active monthly users in the market. 

The growth and evolution of Klarna in the US has been turbocharged by the company’s investment in AI. In October, Klarna announced several new features as part of its Fall Spotlight initiative, including an in-app AI shopping lens allowing shoppers to snap, search and shop anything around them. This follows the launch of the AI-powered discovery shopping feed in the Klarna app which recommends products based on personal interests. Additional new Klarna products and features available to US consumers include in-store barcode scanning for instant access to detailed product information on over 10 million items; a Gift Card Store in collaboration with Blackhawk Network; as well as new tools enabling consumers to shop more consciously with the planet in mind, including sustainability certification filters and a conscious shopping dashboard.

Klarna’s retailer network in the US also continues to grow across multiple verticals including events and entertainment, luxury clothing and accessories, and more with new partners including StubHub, Timex and Cole Haan recently joining Klarna’s network of over a half a million retailers globally. Klarna is a recognized growth partner for retailers, offering payment options that increase consumer trust, loyalty, and conversion alongside unique marketing and advertising solutions that drive measurable growth. Today, 79 of the top 100 US retailers partner with Klarna for payments, consumer acquisition and marketing.

About Klarna

Since 2005 Klarna has been on a mission to accelerate commerce with consumer needs at the heart of it. With over 150 million global active users and 2 million transactions per day, Klarna’s fair, sustainable and AI-powered payment and shopping solutions are revolutionizing the way people shop and pay online and in-store, empowering consumers to shop smarter with greater confidence and convenience. More than 500,000 global retailers integrate Klarna’s innovative technology and marketing solutions to drive growth and loyalty, including H&M, Saks, Sephora, Macy’s, Ikea, Expedia Group, Nike and Airbnb. For more information, visit Klarna.com.

  1. Based on an online survey conducted on over 2,000 Klarna US consumers between the ages 18 and 77 during September 2023.
  2. PYMNTS’ “Provider Ranking of Buy Now, Pay Later Apps,” October 2023.