Klarna

Klarna was founded in 2005 in Stockholm, Sweden, by Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson. The idea originated at the Stockholm School of Economics' start-up incubator, SSE Business Lab, where the founders developed a concept for simplifying online payments. Initially named Kreditor, the company launched as a basic invoicing service: online shoppers received a physical invoice 30 days after purchase. This low-tech MVP validated demand before Klarna built its sophisticated technology. The company officially incorporated on September 5, 2007.

Klarna operates under Klarna Bank AB, its Swedish banking subsidiary authorized by the Swedish Financial Supervisory Authority. This banking license allows it to offer a comprehensive suite of services: digital payments, buy now, pay later (BNPL), consumer credit, payment cards, savings and banking, and shopping and marketing tools for merchants. The company has expanded into a full shopping ecosystem with an in-app marketplace, aiming to become a super app. Key products include the Klarna Card and AI-powered shopping tools, particularly in the US market.

As of 2026, Klarna reported over 119 million active consumers, more than one million merchants, and 3.4 million transactions per day across 26 countries. The US is its largest market by revenue. Klarna became Walmart's exclusive BNPL provider, displacing Affirm. The company returned to profitability in 2024 after years of high growth and losses. Its valuation history includes a peak of $45.6 billion in July 2021, a down round to $6.7 billion in July 2022, and an IPO on the NYSE on September 10, 2025 under ticker KLAR, selling 34.3 million shares at $40 each, raising $1.37 billion at a valuation of about $17.4 billion. By April 2026, the stock had fallen 75% from its all-time high. [edit]