Swedish fintech giant Klarna has hit a major milestone in the UK, surpassing 11 million active customers and reporting 30% revenue growth in 2024, making the UK its third-largest market globally.
The AI-powered payments and commerce network has also doubled its UK merchant base to 60,000, partnering with high-profile brands including Argos, eBay, Eurostar, and John Lewis, firmly cementing its position in Britain’s booming retail landscape.
“This is a huge moment for us,” said Raji Behal, Klarna’s Head of Southern and Western Europe, UK & Ireland. “We’ve gone from challenger to champion — and we’re just getting started. With more retailers, smarter tools and even better experiences, we’re putting power, and money, back into the hands of shoppers.”
Since launching in the UK ten years ago, Klarna has built its reputation on offering buy now, pay later (BNPL) solutions that provide an alternative to traditional credit cards. The company claims it has helped British consumers avoid nearly £500 million in interest by offering interest-free payments and transparent spending.
A report by Capital Economics highlights BNPL’s impact on consumer behaviour: 1 in 2 Klarna users reported reducing their credit card usage, and the average BNPL balance (£150) remains significantly lower than that of a typical credit card balance (£1,295).
Klarna’s offering goes beyond flexible payments — it also provides customers with delivery tracking, spending insights, and tools for managing finances, all through a single, user-friendly interface.
Globally, Klarna now boasts 93 million active consumers and serves more than 675,000 merchants. The company’s rapid UK growth underscores the increasing demand for alternative, customer-centric financial services — particularly among digitally native, younger consumers.
With Klarna’s momentum showing no signs of slowing, the company continues to position itself as a major force in reshaping the future of retail payments in the UK and beyond.
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Klarna hits 11 million UK customers as 2024 revenue surges 30% in breakout year