Retail finance giant unveils shopping app for UK brands

klarna appSwedish fintech Klarna, which provides online financial services to a raft of UK retailers including H&M, Halfords, River Island, Ann Summers, Asos, and Clarks, has launched a new app, offering consumers personalised offers based on their interests, favourite shops and previous behaviour.

Although the firm is perhaps best known for its “buy now, pay later” services, the new app is aimed at meeting changing shopping habits fuelled by the coronavirus pandemic and will now cover the entire shopping journey, from discovery to final purchase.

The app will also include wish lists, allowing users to save items from any retailer in the UK for personal use or to share with friends and family.

Shoppers will now also receive price drop notifications on their favourite items, deal alerts from across the Internet and exclusively curated content from fashion, beauty and lifestyle brands.

Klarna chief executive and co-founder Sebastian Siemiatkowski said: “In the past few months, we’ve seen a shift in shopping behaviour, with millions fully embracing digital purchasing for the first time as physical stores were closed.

“Despite the shifting retail landscape, consumers are still looking for inspiration, convenience and value and it’s become obvious that shopping online now goes far beyond just a transaction.

“The new Klarna app elevates the entire shopping experience, from start to finish by bringing together all the best aspects of shopping in one place, giving Klarna users a unique and personalised experience at their fingertips.”

Launched by Sebastian Siemiatkowski, Niklas Adalberth and Victor Jacobsson in 2005, within two years venture capital firm Investment AB Öresund invested in the company and by 2010 Klarna had opened in Norway, Finland and Denmark.

These days the company has more than 3,000 employees, most of them working at the headquarters in Stockholm. In 2019, it handled about $35bn in online sales; about 40% of all ecommerce sales in Sweden go through Klarna.

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