Klarna scores major payment deal with Uber ahead of hotly anticipated IPO
Summary
The partnership will see the Swedish financial technology firm added as a payment option in the U.S., Germany, and Sweden, Klarna said in a statement. "Consumers can Pay Now quickly and securely in full, which already accounts for over one third of Klarnas global volumes, and more easily manage their finances in one place," Siemiatkowski said. The Uber deal marks one of the most significant merchant wins for Klarna of late, and comes as the European fintech giant is rumored to be gearing up for a blockbuster initial public offering that could value the firm at north of $20 billion. Klarna began having detailed discussions with investment banks to work on an IPO that could happen as early as the third quarter, Bloomberg News reported in February, citing unnamed sources familiar with the matter. The product, called Klarna Plus, costs $7.99 per month, and enables users get their service fees waived, earn double rewards points and access curated discounts from partners including Nike and Instacart.