The Swedish fintech reported an operating profit of $18.5 million in the July to September quarter.
Klarna reported its first quarterly operating profit in four years as it attracted more consumers to buy now, pay later loans, giving the firm a boost as it lays the groundwork for an initial public offering.
Klarna, once Europe’s most valuable start-up, offers credit to about 150 million shoppers globally looking to spread the cost of online purchases. The value of goods sold using Klarna rose 22 per cent year-on-year in the third quarter, with the US growing nearly 50 per cent. The firm said it has now been profitable in the US for four consecutive quarters.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Home loan rates: Big money fintech Athena struggles to vanquish banks in mortgage warsHeavily backed home loan industry disruptor Athena’s loan book shrank markedly last year, and it has slashed jobs to extend its funding runway.
Read more »
Why are women far more likely than men to praise their colleagues’ work?A female-centred workplace is a more appreciative one, Swedish research finds, but with a gender gap of 8%, nice doesn’t cut it with pay
Read more »
Calculation reveals Aussies are doomedA simple calculation has revealed the reality that many Australians can’t borrow as much as they are expected to pay in rent.
Read more »
Home loan rates: Big money fintech Athena struggles to vanquish banks in mortgage warsHeavily backed home loan industry disruptor Athena’s loan book shrank markedly last year, and it has slashed jobs to extend its funding runway.
Read more »
Israel says 'no alternative' as it rejects ceasefire in Gaza with forces set to deepen offensiveIsraeli Prime Minister Benjamin Netanyahu has said 'there will be no ceasefire' until Hamas returns all of the more than 240 hostages captured during its 7 October attacks.
Read more »