
The Swedish buy now, pay later provider is expanding with the global marketplace company as it contemplates a U
“With more flexible payment options and the new resell feature, we’re making it easier than ever for millions of people to buy and sell everything — from collectible sneakers to strollers and designer bags—on eBay,” Klarna Chief Commercial Officer David Sykes said in the statement.
In addition to the link with San Jose, California-based eBay, Klarna has added other tech companies to its roster of partners this year. Over the summer, Klarna teamed up with Adobe Commerce to let sellers offer its buy now, pay later payment options. Last month, the company extended its BNPL service to Google Pay users.
Klarna is trying to reach more customers as BNPL spending rises during the year-end holiday season. As credit card interest rates continue to climb, shoppers have been expected to turn to buy now, pay later to manage their holiday spending and avoid high interest rates. On Cyber Monday earlier this month, BNPL transactions rose 5.5% over last year to $991.2 million, according to an Adobe Analytics report.
With respect to its own financing, Klarna is seeking to raise more investment capital from the public market. Last month, the company confidentially filed a draft registration statement with the Securities and Exchange Commission as part of its plan to go public in the U.S. The Stockholm-based company didn’t set a price range for its stock, but Bloomberg reported Klarna was valued at roughly $14.6 billion.
The expansion of Klarna’s offering in Europe follows a recent eBay policy change in the U.K. In October, the online marketplace stopped charging U.K. consumers a fee when they’re selling to other consumers, according to a company press release. Ebay’s recent changes are part of its efforts to improve the shopping experience for sellers, the company said.
By Tatiana Walk-Morris on Dec 13, 2024
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