Swedish Startup Space

Profit shoots high for Klarna – have grown 600 percent so far this year

Written by on September 15, 2015

Payment-service Klarna are packing some exceptionally strong six months.

There is no doubt that payment-service Klarna – who recently commenced their USA venture – are on the march. Klarna increased their result last year from $6.5 million to $9.1 million, while at the same time landing on approximately $255 million in turnover.

But the growth this year and so far has been stronger than that. During the first half of the year, Klarna had an operating profit of $19.8 million, as announced by Dagens industri.

The corresponding figure last year was $3.1 million which means that this years profit is six times higher than last year. The growth can among other things be derived from increased commission earnings through the company’s payment services.

The operating margins have moved from 2.5 percent to 12 percent in just one year.

“The positive result is mainly driven by our long-term international expansion where, for instance, German-speaking countries push ahead strongly. While retailers are becoming more and more focused on international growth, we become an important partner when it comes to creating local payment solutions, globally. As an example, we help a lot of American retailers with payment solutions in Europe”, public relations manager at Klarna Erik Engellau-Nilsson says in a comment to Breakit.

The turnover is also reported to have grown, from approximately $121 million to $158 million.

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