The Swedish buy-now, pay-later firm reported a record second quarter on Wednesday, Aug. 25, posting gross merchandise volume (GMV) of $20 billion, up from $12 billion in the same period last year.
Much of this growth was led by rising popularity in the US, where GMV in the first half of 2021 rose 311 percent year-over-year. As of June, 20 million Americans were using Klarna, up from 17 million just two months prior. With more than 250,000 retail partners worldwide, including the likes of Nike and Net-a-Porter, Klarna said a potential initial public offering is on the horizon.
In June, it raised $639 million in a round led by Softbank, valuing the company at $45.6 billion.
Paying for purchases in instalments has quickly become ubiquitous online. But Klarna, Affirm and the other fintech players that dominate the space have loftier goals.