Buy now, pay later products like Klarna's have seen surging demand over the last year, thanks in no small part to the coronavirus pandemic.
Klarna, which was last privately valued at $46 billion, has been aggressively expanding into the U.S. and Britain recently.LONDON — Swedish fintech start-up Klarna saw its losses balloon in the first nine months of 2021, as costs increased sharply amid rising demand for buy now, pay later services.
The vast bulk of the losses came from general administrative expenses, which amounted to 9.5 billion krona, up from 5.9 billion krona last year. A Klarna spokesperson told CNBC the firm has entered nine new markets since the start of 2020 and now has over 90 million customers worldwide.
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