Following immediately IPO filingSwedish fintech giant Klarna announced on Monday Specially provided Buy now and pay for Walmart’s loan later. The partnership with Walmart is confirmed by competitors Have before.
Klarna will provide loans to Walmart clients through OnePay, a fintech startup that owns a majority stake and is backed by Ribbit Capital. It said in a statement that Krana will take over the loan.
San Francisco-based confirmed stock Take a hit In the news, it was down 8% by the early morning of Monday afternoon and the transaction price was just over $46.
The two companies have been rivals for years, although confirmed to be more concentrated in the United States. it Public in 2021 It was recently announced Received $80 million in GAAP net income. Klarna suffers A huge blow to its valuationhas made a comeback and reported a net profit of $21 million in 2024, which is a huge loss from 2023 – $244 million.
Max Levchin, confirmed CEO and co-founder, told PaymentsDive He wanted to distinguish the company from competitors including Krana. He told last year’s technical conference that this is a way to focus on earning income from personal transactions. He asserted that Krana and others drove marketing revenue. However, a Krana spokesman objected to this and told the publication: “Most of Krana’s revenue comes from transactions, and a smaller portion of the marketing is drawn.”
Levkin went on to say that confirmation will not make money through transactions through advertising or marketing.
“I have no criticism, it’s not where I decide those bad businesses,” he said. “But I love ours, our establishment revolves around the idea that ultimately, every deal needs to make financial sense.”
Krana’s influence is more global than affirmative Represent its largest market But the U.S. “has been getting, usually the largest every quarter.”
Taking Walmart as a partner will undoubtedly only increase Krana’s presence in the U.S., where retailers are the world’s largest revenue – in the U.S. alone, $441.8 billion was reported in the U.S. alone.
The company said In the statement.
