Wheeler dealer: Klarna boss Sebastian Siemiatkowski with two models at a Klarna event in London
Buy now, pay later giant Klarna has clocked up its fifth straight annual loss ahead of a possible stock market listing.
The Swedish firm posted losses of £190million for 2023, narrower than its £800million loss in 2022.
Revenues at Klarna, which offers customers a way to spread purchases out over several payments with retailers, jumped 22 per cent to £1.8billion in the year.
Chief executive Sebastian Siemiatkowski said that it had ‘made a conscious decision to invest in growth in the peak shopping season’’.
The group, which manages around 2.5m transactions per day and works with retailers such as Deliveroo and H&M, was regularly profitable before it started to expand in the US in 2019.
The company has started talks with investment banks and is working on an initial public offering in the US that could happen as early as the third quarter of the year, according to reports.
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