Klarna Doubles UK Merchants As Hits 11 Million Customers
Hey FinTech Fanatic!
Ten years ago, Klarna quietly stepped into the UK market, offering a new way to shop. By October 2024, it was still building momentum, with just under 10 million active customers and a little over 41,000 retailers. Seven months later, the picture has shifted: 11 million customers and nearly 60,000 merchant partners, up almost 50%, now anchor Klarna firmly in the fabric of British retail.
In just one year, Klarna doubled its UK merchant partners, adding names like Argos, eBay, Eurostar, and John Lewis. The UK now stands as Klarna’s third-largest market, with revenues rising 30% in 2024. What began as an alternative to traditional credit cards has become a staple in how millions manage their everyday purchases.
Since its launch, Klarna estimates it has helped UK shoppers avoid nearly half a billion pounds in interest. Capital Economics found that one in two BNPL users reduced their credit card use after discovering services like Klarna’s. The average outstanding BNPL balance sits at £150, far below the £1,295 seen on credit cards.
“Eleven million UK customers is a huge moment for us,” said Raji Behal, Head of Southern and Western Europe, UK & Ireland. Klarna now offers flexible payments, delivery tracking, and spending insights to 93 million consumers globally.
Read more global FinTech industry updates below 👇 and I'll be back with more tomorrow!
Cheers,
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