Klarna Expects US Expansion This Year
Sept. 22, 2014
The CEO of Swedish PSP Klarna indicated in a published report the company intends to launch in the U.S. after Christmas. The company, based in Stockholm, is staffing up offices in New York City with veterans of the online payment space from PayPal and eBay, according to Sebastian Siemiatkowski, CEO of Klarna. Siemiatkowski told the Wall Street Journal Klarna could accomplish its expansion using funding it has already secured, but may look to raise more.
Klarna has built online and mobile checkout solutions in Europe that require only an email address and a postal code to authenticate consumers. In the article, Siemiatkowski characterized Klarna as "a user interface company with a very sophisticated risk engine." The company expects to generate $300 million in revenue this year on $9 billion worth of transactions in 15 markets. Siemiatkowski said the U.S. launch will be modest, with five to 10 merchants of various size.