Klarna has reached another milestone as it records 20 million customers in the US while demand for Flexi-payments continues to rise.
The growth has mainly been attributed to the company’s app, which sees around four million monthly active users in the US.
The Klarna app’s daily downloads surpasses the company’s closest competitor by 20 per cent, according to App Annie.
“The rapid growth of Klarna customers in the US speaks to consumer demand for flexible payment options and a more seamless, convenient shopping experience,” Klarna’s head of North America David Sykes said.
“As people browse and buy across channels, the Klarna app allows them to discover new products and brands while having the ability to shop both in-store and online with interest-free payment options.
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“In the year ahead, we will continue to expand our US merchant base, offering greater opportunities for customer acquisition and engagement.”
The buy now pay later (BNPL) leader launched its rewards club, Vibe, last June and has since grown to over 1.8 million active members.
Vibe members have access to a range of gift cards to use at retailers including Amazon, H&M and Sephora and have redeemed nearly $2.8 million in gift cards.
One of the app’s most used feature is Collections, which allows users in the US to add over eight million items to a wish list where they are easily accessed.
Klarna has also helped the growth of its merchant partners, seeing overall US retail partnerships climb to 10,000 as of July this year (132 per cent growth year on year).
The news comes as the company sees its valuation rise to $45.6 billion during its latest round of funding as it eyes up a possible IPO in the near future.