Klarna Revenue and Usage Statistics (2024)

David Curry

Updated: January 15, 2024

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 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 2022, Klarna made over $1.5 billion revenue through this service. Merchants are charged a $0.30 fixed and 3.29% variable fee on all transactions. 

Klarna was expected to be the next big fintech IPO, but the change in Wall Street’s perception of fintech companies in 2022 forced it to delay an IPO indefinitely. 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, but that was reduced by 85% in 2022 to $6.7 billion. 

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

Klarna Key Statistics

  • Klarna made $1.85 billion revenue in 2022, a 30% year-on-year increase
  • It generated $83 billion in gross merchandize volume in 2022
  • 150 million people used Klarna in 2022, 25 million consumers are in the United States
  • Over 400,000 merchants accept Klarna

Klarna Overview

TitleTitle 2
Launch dateJune 2005
HQStockholm, Sweden
PeopleSebastian Siemiatkowski (co-founder, CEO), Knut Frängsmyr (deputy CEO), David Fock (CPO)
Business typePrivate
IndustryFinance

Klarna Revenue

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

Klarna annual revenue 2016 to 2022 ($mm)

YearRevenue ($mm)
2016384
2017451
2018588
2019772
20201071
20211424
20221853

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.

Klarna annual net income 2017 to 2022 ($mm)

YearNet income/loss ($mm)
2017
2018
2019
2020
2021
2022

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.

Klarna annual gross merchandize volume 2017 to 2022 ($bn)

YearGross merchandize volume ($bn)
201721
201829
201935
202053
202180
202283

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.

Klarna annual users 2019 to 2022 (mm)

YearUsers (mm)
201945
202086
2021147
2022150

Source: Company data

Klarna US Users

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

Klarna annual users in the United States 2019 to 2022 (mm)

YearUsers (mm)
20197
202011
202120
202225

Source: Company data

Klarna Merchants

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

Klarna annual number of merchants on platform 2017 to 2022

YearMerchants
2017105,000
2018130,000
2019170,000
2020210,000
2021250,000
2022400,000

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.

Klarna valuation 2019 to 2022 ($bn)

DateValuation ($bn)
August 20195.5
September 202010.6
March 202131
July 202145.6
July 20226.7

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.

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