The Swedish buy now, pay later (BNPL) firm Klarna reported a “record” second quarter on Wednesday (Aug. 25), announcing that its gross merchandise volume (GMV) had grown by over $8 billion in the past year.
According to the company’s interim report for the first half of 2021, Klarna recorded a second-quarter GMV of more than $20 billion, up from $12 billion in the second quarter of 2020. Its GMV for the first half of the year was $39 billion, compared to $22 billion for the first half of 2020.
“Sustainable credit is the basis of our long-term business model,” Sebastian Siemiatkowski, CEO and co-founder of Klarna, said in the report. “Klarna’s innovative products that suit the way consumers shop, pay and bank today drive huge benefits for consumers and retailers. This is why Klarna’s growth has consistently outpaced both global and U.S. eCommerce for the last three years as we continue to connect consumers and retailers in new ways to elevate the shopping experience.”
Learn more: BNPL Firm Klarna Hits 20M US Customers
The report came two days after Klarna announced that it had doubled its customer base in the U.S. since June of 2020, with 20 million people using its service. Much of that growth is attributed to the popular Klarna app, which has four million active American users.
In its report on Wednesday, Klarna said installations for the app were up 115 percent year over year, 20 percent higher than its closest competitor.
This year, Klarna partnered with Macy’s to offer its interest-free Pay in 4 solution in-store and online across all Macy’s, Inc. retail brands.
Last week, Klarna announced that it is considering an initial public offering (IPO) as early as next year, but has not said whether it will offer new stock in its listing.
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