The company has expanded from the Nordic countries to a number of large markets including the UK and Germany. Klarna is currently setting up offices in New York, according to Sebastian Siemiatkowski, Co-Founder and Chief Executive of Klarna.
PayPal is currently the default payment option on millions of US websites. And through its USD 800 million acquisition of Braintree Payments in 2013, PayPal also provides the payment back-end for many prominent startups, such as Uber Technologies and Airbnb.
Klarna offers payment solutions such as a one-click purchase option for a range of online storefronts across Europe and did USD 200 million in revenue in 2013. It has 15 million users and 15,000 merchants in Sweden, Norway, Denmark, Finland, Germany, the Netherlands and Austria. The company has raised USD 250 million in funding from investors including Sequoia Capital, DST and General Atlantic.
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