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Klarna hits 500,000 consumer milestone in Ireland

Klarna hits 500,000 consumer milestone in Ireland

Six months on from its launch in Ireland, Klarna has reached the milestone of 500,000 total consumers for its buy now, pay later product.

Klarna has signed up over 800 merchants in Ireland, and launched a range of new money management features as well as its open banking business unit Klarna Kosma. To further its growth in the country, the company has introduced self-service onboarding, which allows new merchants to integrate Klarna’s checkout and flexible payment methods in just a few clicks.

Colin Creagh, Klarna's head of business development in Ireland, comments: “Klarna’s growth in Ireland truly speaks about the evolving consumer trends and increased demand for flexible payments. 500,000 consumers now trust Klarna in Ireland and we will continue to disrupt the retail banking industry and grow our presence in the country.”

The Irish milestone comes just weeks after Klarna announced that it had reached 150 million active consumers globally and 400,000 merchants.

However, the high-growth business plan has recently hit the skids as prive drops in listed tech stocks has spilled over into loss-making privately funded fintech firms. Earlier this month Klarna laid out plans to lay off 10% of its staff amid a valuation crunch which has seen its worth downgraded from a high of $46 billion to the low $30 billion mark.

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