FF News Logo
Wednesday, September 17, 2025
FF Awards Leaderboard Banner

Breaking News

Cheaper, Faster… Riskier: Over Half Of Brits Plan To Use ChatGPT For Completing Their Tax Returns WorkFusion Raises $45 Million in Funding to Fuel Growth for Agentic AI for Financial Crime Compliance AI-Powered E-commerce, Stablecoins and Local APMs: Emerging Trends Headline EBANX’s Payments Summit in Mexico Second Day of Money20/20 Middle East Unveils Next-Gen Solutions at the Region’s Largest Ever Fintech Gathering United Gulf Financial Services Joins The Hashgraph Association and Exponential Science Foundation Adding $1M to Hedera Africa Hackathon Pool Prize Payhawk Transforms Spending Experience for Businesses With Four Enterprise-Ready AI Agents Alipay+ to Launch in Saudi Arabia, Facilitating Cross-Border Mobile Payments for Local Merchants Saudi Central Bank Launches Google Pay Service Through Mada Network Tamara Secures New Asset-Backed Facility of Up to $2.4 Billion Starling Reveals New-Look Logo, App and Cards as Bank Launches Brand Mission to Help Britons Become ‘Good With Money’ barq Joins Forces With Thunes to Power Faster, World-Class Remittances Across Saudi Arabia Paymentology Expands Presence in Saudi Arabia to Support Vision 2030 and Next-Generation Payments JPMorganChase and Plaid Announce an Extension to their Data Access Agreement for Sharing of Consumer Permissioned Data Enhancements to Ecommpay Subscriptions Service Help Address Failed Recurring Payments HSBC Deploys Wealth Intelligence for Its Wealth Management Staff to Enhance Client Experience

September 4 2022

Klarna losses tripled to £500m

Share this post:

Share on LinkedIn Share on WhatsApp

Klarna, the BNPL giant from Sweden has revealed its losses more than tripled in the first half of the year.

Sebastian Siemiatkowski says he is “proud” of Klarna’s latest results, despite the Swedish fintech heavyweight’s losses.

Read also: Revolut launched scholarship that rewards females in tech

Even though the company is starring down the barrel of a string of existential threats, the CEO of the buy-now-pay-later (BNPL) business believes the company’s best days are ahead of it.

Siemiatkowski said Klarna will be implementing a range of measures to meet the challenges presented by the current economic outlook and risk-adverse investor environment.

It previously cut more than 700 jobs back in May, around 10% of its global workforce.

Klarna rode the BNPL wave during the pandemic, hitting a $46 billion valuation last summer, before crashing down this year, forced to raise funds at huge discount.

Klarna’s market valuation has suffered in recent months as a consequence, tumbling to $7bn after a fresh funding round in June.

“In the past years, Klarna was rapidly expanding through acquisitions which is why it is now in 45 markets with more than 150 million users,” Chris Dinga, payment analyst at research firm GlobalData, tells Verdict.

Siemiatkowski: “We’ve had a few years now where growth has been really heavily prioritised by investors. Now, understandably, they want to see profitability.”

[mc4wp_form id=”2736″]

“We’ve had to make some tough decisions, ensuring we have the right people, in the right place, focused on business priorities that will accelerate us back to profitability while supporting consumers and retailers through a more difficult economic period. We needed to take immediate and pre-emptive action, which I think was misunderstood at the time, but now sadly we have seen many other companies follow suit.”

Siemiatkowski added that even though he “[wouldn’t] usually comment on competitors”, he bragged that “Klarna’s GMV is now almost [five times] the size of Affirm’s and we’re also outpacing them for growth in their home market with our US GMV doubling [year over year], up 109%, [whereas Affirm’s numbers were 75% year over year.]”

  1. Cheaper, Faster… Riskier: Over Half Of Brits Plan To Use ChatGPT For Completing Their Tax Returns

    Fintech

     Read more
  2. WorkFusion Raises $45 Million in Funding to Fuel Growth for Agentic AI for Financial Crime Compliance

    Funding

     Read more
  3. AI-Powered E-commerce, Stablecoins and Local APMs: Emerging Trends Headline EBANX’s Payments Summit in Mexico

    Merchants

     Read more
  4. Second Day of Money20/20 Middle East Unveils Next-Gen Solutions at the Region’s Largest Ever Fintech Gathering

    Events

     Read more
  5. United Gulf Financial Services Joins The Hashgraph Association and Exponential Science Foundation Adding $1M to Hedera Africa Hackathon Pool Prize

    Events

     Read more
Sibos | FFNews