The Covid-19 pandemic accelerated e-commerce growth, both in the world and in Poland. More players want to sweep up this field of market. Swedish company Klarna has just entered Poland, offering deferred payments (Buy Now Pay Later) with the intention of introducing modern banking services already available in other supported markets.
Klarna gives customers the option to pay for their online purchases with a 30-day deferment without interest and additional fees. Swedish fintech is increasingly likely to sell shares in an initial public offering. The startup’s valuation reached $45.6 billion, more than four-times higher than last year.
“We want to challenge traditional banking incumbents, that would apply to everything we do and would include also a listing” CEO and co-founder Sebastian Siemiatkowski told Bloomberg in Warsaw.
The company hasn’t decided whether to offer new stock in a potential listing, which has become more likely after granting employees share options.
In Poland, Klarna starts with cooperation with H&M – its deferred payments have already appeared in the e-store of the Swedish fast-fashion giant. Siemiatkowski said he will be looking for cooperation with Polish IT companies, which offer auxiliary services to Klarna’s core operations, and sees here a wide IT talent pool.
More information is available on Bloomberg.
Image credit: Klarna