Tag: Klarna
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N26 Lets Go About 70 Employees To Achieve Profitability In 2024!
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In 2024, Berlin-based Neobank finally wants to be in the black. To achieve this ambitious goal, costs must be reduced. Therefore, the fintech company of Austrian founders Maximilian Tayenthal and Valentin Stalf announced today that about 70 employees would have to leave, corresponding to about 4% of the workforce.
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Klarna CEO Sees No Further Rounds Of Layoffs Despite Tripled Net Loss!
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The payment service provider Klarna is suffering from consumer restraint. Nevertheless, Klarna CEO Sebastian Siemiatkowski is optimistic. Growth in the U.S. and the U.K. gave the “Buy-Now-Pay-Later” pioneer Klarna an increase in revenue in the first nine months of the year. Revenues and payment volumes rose 22% year-on-year, the Swedish…
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JP Morgan Snaps Up FinTech StartUp Renovite!
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The U.S. bank J.P. Morgan (website) has acquired the digital payment service provider Renovite (website), a leading cloud-native payments technology company, to counter the threat posed by fintech companies such as Block, Klarna, PayPal, and Stripe.
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Bad News: BNPL-Fintech Klarna Triples Losses In H1 2022!
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After the hype years of 2020 and 2021, BNPL provider Klarna is struggling badly. After the massive down-round and mass layoffs, the Swedish unicorn has to report today a pretty tough first half of 2022. As a result, the operating loss has tripled compared to last year’s period.
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Klarna CEO Sebastian Siemiatkowski Comments The 85 percent Loss In Value!
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Swedish payment service Klarna also feels declining investor interest in fast-growing and loss-making fintech companies. The company said in Stockholm on Monday it had secured $800 million in new financing, equivalent to a valuation of $6.7 billion. That means the company has lost about 85% of its value in a…
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Amid FinTech Downturn Klarna Seeks Fresh Money At Imploded $6.5 Billion Valuation!
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The Swedish fintech Klarna was just Europe’s most valuable startup, with a valuation of $46 billion. Now CEO Sebastian Siemiatkowski is hoping for fresh capital for a valuation of just $6.5 billion. Not long ago, the “buy-now-pay-later” pioneer received money at a valuation of $46 billion.
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Klarna CEO Welcomes Apple’s Entry Into Buy-Now-Pay- Later!
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Klarna CEO Sebastian Siemiatkowski called the entry of Apple into the Buy-Now-Pay-Later space is an “amazing” development that underlines the value of the business model. He added that the business model itself is “extremely recession-proof” because it relies on smaller balances for consumers and has an underwriting structure that is…
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Apple Announced Buy-Now-Pay-Later Service To Compete Against Klarna Et Al!
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Apple unveiled its “Buy Now, Pay Later” service, which will operate out of a wholly-owned subsidiary called Apple Financing LLC. The company has the necessary state lending licenses to offer the feature. The new service will make financial services a deeper part of its ecosystem. Apple has to compete against…
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Fintechs Discover Influencer Marketing – Can It Work?
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For years, most fintech startups gave Instagram stars a wide berth. To reach a younger target group, they are now increasingly turning to influencer marketing. But can financial products even be promoted in this way? Step, the US bank for teens, was able to win over 16-year-old influencer Charli D’Amelio.…
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German-British SumUp Cuts Jobs In Brazil While Expecting Fresh Money!
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According to the #DealMonitor of Deutsche Startups, the German-British FinTech SumUp is about to close a finance round for $400 million at a value of $6.5 billion. The Fintech was founded in 2011 by Daniel Klein, Marc-Alexander Christ, Stefan Jeschonnek, and Jan Deepen. It positions itself as a mobile point-of-sale…