News

November 6, 2023

Klarna reports first quarterly profit in four years

It comes as the fintech sets up a UK holding company in preparation for an IPO

Amy O'Brien

2 min read

Klarna has posted its first quarterly profit in four years as it makes an “early step” towards an eventual IPO.

The Swedish buy now, pay later giant’s third-quarter profits reached SEK 90m in the three months to the end of September, up from a loss of SEK 2.1bn in the same period a year earlier.

Credit losses at the fintech almost halved to SEK 800m and its quarterly revenues increased by 30% to SEK 6bn. 

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Amy O'Brien

Amy O'Brien is a freelance reporter covering Italian tech. She was previously Sifted's fintech reporter

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