Payment processing platform Klarna announced on Thursday it has added one million new consumers in the U.S. in just three months. The company reported it has also seen strong growth momentum in its retail partnerships in the US, which have grown by more than 158% year over year. It saw an increase in gross merchandise volume of 44%, amounting to $22 billion, in the first half of 2020, reflecting increased consumer demand for its offerings.
Globally, Klarna revealed it has added more than 35,000 retailers during the first half of 2020 to its network of more than 200,000 retail partners. With over 4,300 US retail partners already, Klarna claims it is poised to continue its strong momentum through the rest of 2020. Speaking about the latest milestone, David Sykes, Head of US at Klarna, stated:
“Our US network has grown to more than 9 million consumers, we see an average of 20,000 new app downloads a day and thousands of retailers are partnering with us to implement forward-thinking strategies that will help them compete effectively, build lasting connections with consumers and provide the payment flexibility their consumers need during this time.”
Founded in 2005, Klarna offers products and services to consumers and retailers within payments, social shopping, and personal finances. It enables consumers to make open payments quickly, easily, and securely; immediately, delayed, or in installments. Klarna works with over 205,000 retailers including in Germany H&M, Spotify, MediaMarkt, Expedia, Nike, and Deutsche Bahn.