Sebastian Siemiatkowski, CEO of Klarna, talking at a fintech occasion in London on Monday, April 4, 2022.
Chris Ratcliffe | Bloomberg by way of Getty Photos
Klarna noticed its losses leap within the first quarter as the favored purchase now, pay later agency applies the brakes on a hotly anticipated U.S. preliminary public providing.
The Swedish funds startup stated its web loss for the primary three months of 2025 totaled $99 million — considerably worse than the $47 million loss it reported a yr in the past. Klarna stated this was resulting from a number of one-off prices associated to depreciation, share-based funds and restructuring.
Revenues on the agency elevated 13% year-over-year to $701 million. Klarna stated it now has 100 million lively customers and 724,00 service provider companions globally.
It comes as Klarna stays in pause mode relating to a extremely anticipated U.S. IPO that was at one stage set to worth the SoftBank-backed firm at over $15 billion.
Klarna put its IPO plans on maintain final month resulting from market turbulence brought on by President Donald Trump’s sweeping tariff plans. On-line ticketing platform StubHub additionally put its IPO plans on ice.
Previous to the IPO delay, Klarna had been on a advertising blitz touting itself as a synthetic intelligence-powered fintech. The corporate partnered up with ChatGPT maker OpenAI in 2023. A yr later, Klarna used OpenAI know-how to create an AI customer support assistant.
Final week, Klarna CEO Sebastian Siemiatkowski stated the corporate was capable of shrink its headcount by about 40%, partly resulting from investments in AI.
