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Klarna Opens New UK Headquarters

Klarna Opens New UK Headquarters

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PYMNTS.com
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https://www.pymnts.com/buy-now-pay-later/2021/klarna-opens-new-united-kingdom-headquarters/
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PYMNTS
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Klarna continues its U.K. expansion with a new London headquarters and an expanded office in Manchester, the buy now, pay later (BNPL) firm announced in a press release.

The company plans to double its U.K. staff — currently at 200 — within the year. Over 14 million shoppers and 13,000 retailers in the U.K. use Klarna, according to the release.

The new U.K. headquarters takes 11,000 square feet of space on the top floor of a WeWork-operated building in the Holborn district of London, the release stated.

The Manchester office is expanding its current space in the Old Granada Studios. The release noted that this location is key due to its proximity to several “high-growth” retailers, such as JD Sports and Boohoo Group.

“These investments in new office space not only demonstrate our considerable growth, but also underline our ambitions to be an increasingly important part of the U.K. economy — shaping the future of how we shop, bank and pay,” Alex Marsh, head of Klarna U.K., said in the release.

Klarna aims to continue to push forward its international expansion, the startup announced after its recent $1 billion funding round, which valued the firm at $31 billion. BNPL solutions have surged in popularity, especially during the pandemic, and particularly among millennial shoppers. The offering can make an impact on sales at retail stores, PYMNTS reported in March.

“Customers, particularly younger ones, were asking for a buy now, pay later option,” Macy’s CEO Jeff Gennette told analysts in 2020. “If we didn’t have it, they might have gone elsewhere.”

He added that 40 percent of shoppers who use Klarna are new to Macy’s.

Earlier this month, Macy’s signed a deal with Klarna to offer the BNPL solution exclusively in all its stores.

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May 12, 2021 at 10:02PM
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