the firm Klarna's Jan-Sep loss from a firm made up of lentees, and a low profit from their deposits grows

the firm Klarna's Jan-Sep loss from a firm made up of lentees, and a low profit from their deposits  ...

The year to the end of September, Loss for the Swedish payments firm Klarna deepened, while transaction using its platform jumped in the final three months of the period, showed the results on Friday.

During January and September period the losses of Klarna, a "buy now, pay later" company, widened to 3.13 billion crowns (334,1 million) in the period four months. The losses were 801,1 million crowns, or 801,1 million in years ago.

Net credit losses rose by more than 80 per cent to 2.9 billion crowns, said Klarna, who rivals Affirm and Afterpay.

In the third quarter, the company's gross merchandise volume - the value of transactions made using its payment platform - grew from $35 billion to over $57 billion in the third quarter.

The firm has said that USA continues to be Klarna's fastest growing market in terms of 300% GMV growth with 21m+ consumers, "the US said in a statement. This is still the only industry that will be able to dominate the market in three months and make its stock a debut.

The firm's investors include SoftBank, Sequoia Capital, NorthZone, Silver Lake, rapper Snoop Dogg, BlackRock and Singapore's sovereign wealth fund GIC.

($1 = 9,0963 crowns in Sweden)

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