Hot on the heels of Revolut, Monzo targets buy now pay later September 10, 2021 British challenger bank Monzo is plotting a move into the buy now pay later (BNPL) market, amid exploding demand for the services since the onset of the pandemic. The digital bank is reportedly prepping to announce the launch of a new BNPL product as soon as next week, the Evening Standard first reported, making it [...]
One in ten UK buy now pay later shoppers pursued by debt collectors September 3, 2021 One in ten UK shoppers who choose to pay for products using buy now pay later have been chased by debt collectors, amid exploding demand for the services since the onset of the pandemic. The proportion of buy now pay later (BNPL) shoppers that have received contact from or been referred to debt collectors rises [...]
Klarna-challenger Zilch strikes $110m deal with Goldman Sachs and Daily Mail owner July 23, 2021 ‘Buy now pay later’ (BNPL) company Zilch today announced it has cut a deal to raise $110m (£80m) in debt and equity from Goldman Sachs and the investment arm of the Daily Mail group. The deal with Goldman Sach’s asset management and private credit division and DMG Ventures, part of the Daily Mail & General [...]
Klarna snaps up London ecommerce tech startup Hero July 11, 2021 Klarna has acquired London-based ecommerce tech startup Hero in a deal worth a reported $160m (£115m). Hero, which was founded in 2015, offers virtual shopping services to retailers and counts Harvey Nichols, Levi, Nike and JD Sports among its clients. Klarna said it will introduce Hero to its 250,000 retail partners, allowing them to access [...]
Klarna likely to choose US over London for stock market listing June 6, 2021 Sebastian Siemiatkowski, boss of pay now, pay later business Klarna, has said the firm is likely to choose the US over London for its stock market debut. In an interview with The Sunday Times, Siemiatkowski said: “It’s more likely that Klarna will list in the US. “The majority of my investors would say that’s where [...]
US shoppers behind Klarna’s recent platform transaction boom May 28, 2021 Swedish ‘buy now, pay later’ company Klarna has reported a jump in transactions using its platform in the January to March quarter, helped mainly by growth in the United States. Klarna’s gross merchandise volume (GMV) – the value of transactions made using its payment platform – nearly doubled to $18.9bn in the first quarter from $9.9bn a [...]
Klarna mulls London stock market float after post-Brexit listing revamp May 21, 2021 Klarna is weighing up a potential stock market float in London, but has said its decision will rest on changes to listing rules in the capital after Brexit. Chief executive Sebastian Siemiatkowski said London had the opportunity to strengthen its reputation as a global financial hub by attracting more fintech firms and banks. “As Brexit [...]
Klarna to buck pandemic trend and take on more UK office space May 3, 2021 Klarna plans to take on more office space as part of a push to double its British workforce and launch more banking products. The buy now pay later firm will take new headquarters in an 11,000 sq ft WeWork office in Holborn and expand its existing space in Manchester. The firm is also looking at [...]
City watchdog to crack down on ‘buy now pay later’ firms February 1, 2021 The City watchdog is preparing to move in on so-called buy now pay later firms such as Klarna following a review of the unsecured credit market. The Financial Conduct Authority (FCA) will this morning publish a report by interim chief executive Chris Woolard recommending that the sector be brought under the regulator’s remit, Sky News [...]
Advertising watchdog bans Klarna Instagram ads December 23, 2020 The advertising watchdog has banned several Klarna shopping adverts that appeared on Instagram and encouraged consumers to use Klarna to shop and ‘boost their mood’. The Advertising Standards Agency (ASA) has banned Klarna’s Instagram campaign from appearing again, and warned the influencers involved to not “irresponsibly” encourage the use of Klarna’s deferred payment service. The [...]