Klarna Q1-Q4 2020 Financial Report
STOCKHOLM, Feb. 25, 2021 /PRNewswire/ -- Today, Klarna Bank AB (publ) ("Klarna") publishes its Annual financial statement release for July - December 2020, and the full Q1-Q4 of 2020.
Our strong results for 2020 were driven by rapidly accelerating momentum in the US, entry into four new markets, and growing consumer and merchant preference for Klarna's elevated shopping experience and strong brand. New product launches including savings accounts in Sweden, current accounts in Germany and Klarna's Vibe loyalty program in the US and Australia enhanced consumer acquisition and retention, and drove adoption of the Klarna app to a record 18 million monthly global users(1).
Full year January to December 2020
Record gross merchandise volume with total net operating income breaking USD 1 billion
Growing retailer and consumer connections globally, through one platform in 17 markets
Accelerated growth in the US
Driving customer satisfaction in 2021 and beyond
Sebastian Siemiatkoski, Klarna co-founder and CEO commented: "The last year has created unprecedented change in the global economy which has transformed how consumers bank, shop and pay. Klarna has adapted well, supporting retailers to move online at pace while continuing to provide consumers with superior shopping experiences and payment options that meet their evolving needs. 2020 has not slowed Klarna's progress: we scaled to four new markets, broadened our platform to an integrated banking offering in Sweden and Germany, and truly accelerated our growth in the US, where we added 1 million new consumers per month in the last quarter.
"2021 is going to be another year of change as consumers will slowly return to stores expecting to see the flexibility they have become accustomed to reflected in the brick-and-mortar experience. Klarna will continue to innovate across channels, geographies and verticals to provide consumers with the transparency, control and flexibility they now demand from banking, shopping and payments, while supporting our partners in their growth ambitions."
The full report is available at www.klarna.com.
(1) Global active monthly app users
(2) Klarna's results are reported in SEK. To arrive at USD values, the average exchange rates for 2019 and 2020 have been used. 1USD equals approximately 9.5SEK for full year 2019 and 9.2 SEK for full year 2020.
(3) Retently, 2020
We make shopping smooth. With Klarna, consumers can buy now and pay later, so they can get what they need today. Klarna's offering to consumers and retailers includes payments, social shopping and personal finances. Over 250,000 retail partners including Macys, H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress, have enabled Klarna's innovative shopping experience online and in-store. Klarna is ranked number five on the 2020 CNBC Disruptor 50 list, and is one of the most highly valued private fintechs globally with a valuation of $10.65 billion. Klarna was founded in 2005, has over 3,500 employees and is active in 17 countries. Klarna has been backed by Sequoia Capital since 2010 and more recently, Dragoneer, Bestseller Group, Permira, Visa, Atomico, Ant Group and Silver Lake, HMI Capital, TCV amongst others. For more information, visit klarna.com.
This information is information that Klarna Bank AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on February 25, 2021.
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SOURCE Klarna Bank AB