Klarna Revenue and Usage Statistics (2022)

David Curry

Updated: May 4, 2022

Klarna is one of the leading fintech companies offering buy now, pay later services, which let consumers pay (BNPL) for things in a series of instalments instead of all upfront. 

Launched in Sweden in 2005, Klarna had intentions of being the Swedish PayPal, by making online payments simpler for the consumer and merchant. It was somewhat successful in this, but it wasn’t until it launched its BNPL feature in 2016 that Klarna gained international recognition and usage. 

BNPL is another form of credit, but instead of charging interest, Klarna and several other BNPL providers offer instalments on zero-interest. This makes it a more friendly option, although some have warned that because of the unregulated nature of the loans and the flowery advertising campaigns, it is easier to lull consumers into another form of debt. 

Klarna and other BNPL providers would argue that because of the zero-interest, their loans are more affordable and less callous to those who cannot meet repayments. 

The majority of Klarna’s loans are agreed upon in the same way one would pay for something with debit or credit card. From there, customers either sign up to a direct debit with Klarna or are notified a few days prior to pay the balance off. 

In 2020, Klarna made over $1 billion revenue through this service. It charges merchants a $0.30 fixed and 3.29% variable fee on all transactions. That was on $53 billion in gross merchandise volume, with about a third coming from the US alone. 

Klarna is expected to be the next big fintech IPO, perhaps debuting sometime in late 2022. It was valued at $45.6 billion in June 2021, making it the fourth most valuable startup in the world and the most valuable in Europe. 

We have collected data and statistics on Klarna. Read on below to find out more.

Klarna key statistics

  • Klarna made $1.42 billion revenue in 2021, a 32% year-on-year increase
  • It generated $80 billion in gross merchandize volume in 2021
  • 147 million people used Klarna in 2021, 20 million consumers are in the US
  • A quarter of a million merchants accept Klarna

Klarna overview

Launch date June 2005
HQ Stockholm, Sweden
People Sebastian Siemiatkowski (co-founder, CEO), Knut Frängsmyr (deputy CEO), David Fock (CPO)
Business type Private
Industry Finance

Klarna revenue

Klarna revenue increased by 32% in 2021 to $1.42 billion. It generates most its income from interchange and merchant fees.

Year Revenue
2016 $384 million
2017 $451 million
2018 $588 million
2019 $772 million
2020 $1.07 billion
2021 $1.42 billion

Source: Company data

Klarna profit

Klarna has been declining in profit since 2015, falling into losses in 2019 and quadrupling in 2021 to $730 million.

Year Profit
2017 $37.4 million
2018 $10.8 million
2019 ($92.8 million)
2020 ($167 million)
2021 ($730 million)

Source: Company data

Klarna GMV

Klarna has increased its gross merchandize volume every year. It had 50% growth in 2020, generating $80 billion in GMV.

Year Gross merchandize volume
2017 $21 billion
2018 $29 billion
2019 $35 billion
2020 $53 billion
2021 $80 billion

Source: Company data

Klarna users

Nearly 150 million consumers used Klarna in 2021, a 70% increase on the year before. About 40 million use Klarna’s mobile apps.

Year Users
2019 45 million
2020 86 million
2021 147 million

Source: Company data

Klarna US users

There are over 20 million Klarna users in the US alone, making it Klarna’s largest market.

Year US users
2019 7 million
2020 11 million
2021 20 million

Source: Company data

Klarna merchants

Over a quarter of a million merchants accept Klarna, including H&M, Nike and Wayfair.

Year Merchants
2017 105,000
2018 130,000
2019 170,000
2020 210,000
2021 250,000

Source: Company data

Klarna valuation

Klarna’s valuation has ballooned over the past two years, as BNPL has become an alternative to credit for a lot of shoppers.

Date Valuation
August 2019 $5.5 billion
September 2020 $10.6 billion
March 2021 $31 billion
July 2021 $45.6 billion

Sources: Bloomberg, CNBC, FT, TechCrunch

Klarna BNPL market share

This chart looks at the percentage of websites that offer Klarna and other BNPL services. Klarna has the highest adoption rate, at 53 percent, followed by Square’s AfterPay.

Klarna FAQ

How does Klarna work?

When purchasing an item through Klarna, there are three ways to pay it off: pay a lump sum anytime in the next 30 days (interest free), pay in four instalments, or finance it over a period of six to 36 months.

How does Klarna make money?

Klarna makes the majority of its income through merchant commissions ($0.30 flat fee and 3.29% variable rate) and interchange fees. It also earns interest on customer accounts that are paying through finance.

How many transactions does Klarna handle everyday?

Klarna handles over two million transactions a day.

By signing up you agree to our privacy policy. You can opt out anytime.