Retail

Fintech unicorn Klarna’s losses rise sevenfold in first half

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Klarna CEO Sebastian Siemiatkowski attends the launch of the online payment start-up’s pop-up store in London.

Dave Benett | Getty Images for Klarna

Swedish online payments firm Klarna reported a ballooning net loss in the first half of 2020, as the company invested in an international expansion drive and set aside reserves to deal with credit losses amid the coronavirus pandemic.

The Stockholm-based company’s interim first-half report showed a net loss of 522 million Swedish krona ($59.8 million) between January and June, a sevenfold increase from the net loss of 73 million krona it posted in the same period last year.

Klarna, backed by investors including Snoop Dogg and Jack Ma’s Ant…



Source cnbc.com

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